BuzzFeed to be taken over by Byron Allen in $120m deal

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1. https://www.benzinga.com/markets/equities/26/05/52475434/buzzfeed-bzfd-stock-soars-after-hours-why – Please view link – unable to able to access data
2. https://www.axios.com/2026/05/12/byron-allen-buzzfeed-deal-ceo – Media entrepreneur Byron Allen has reached a deal to acquire a controlling 52% stake in BuzzFeed by purchasing 40 million shares at $3 each, totalling $120 million. As part of the deal, Allen will become the new CEO and chairman of the company, while current CEO and founder Jonah Peretti will transition to the role of president of BuzzFeed AI. The acquisition comes as a critical lifeline for BuzzFeed, which has faced financial struggles and was reportedly close to bankruptcy. The transaction is expected to close by the end of May and aims to revitalise BuzzFeed with renewed liquidity and operational focus.
3. https://www.theguardian.com/business/2026/may/11/buzzfeed-digital-media-deal-byron-allen – BuzzFeed, the digital media pioneer that was once valued as high as $1.7bn amid a private equity-funded wave of interest in websites that generated massive amounts of online traffic in the 2010s, has finally changed hands for $120m. On Monday, the company announced that a controlling stake in the company has been sold to media entrepreneur Byron Allen. Allen, who often makes large, sometimes unsolicited bids for media companies, is also an on-screen personality in addition to controlling his Allen Media Group conglomerate, which owns networks including The Weather Channel. Allen’s show, Comics Unleashed, will replace the Late Show with Stephen Colbert on CBS’s schedule starting later this month. As part of the transaction, Allen will take over for the BuzzFeed founder, Jonah Peretti, as chief executive, though Peretti will stay on as president of BuzzFeed AI. BuzzFeed also owns the progressive news outlet HuffPost. “Byron’s vision, operational experience and long-term commitment to premium content makes him exceptionally well-positioned to lead BuzzFeed and HuffPost into our next phase of growth,” Peretti said in a statement. “And personally, I’m thrilled Byron is taking over The Late Show With Stephen Colbert’s time slot, and highly confident that his relationships with talent will bring some incredible stars to the BuzzFeed platform.” Peretti said the company will undergo “significant” cost cuts ahead of Allen’s arrival, which often mean employee layoffs. In the announcement, Allen said his focus will be “expanding into free-streaming video, audio and user-generated content”. Allen, who owns 13 local television networks and 10 HD television networks, suggested that BuzzFeed will use AI to try to compete with YouTube “to become another premiere free video streaming service”. BuzzFeed’s value soared in the 2010s amid a private equity-funded wave of interest in websites that generated massive amounts of online traffic. It once included a well-staffed digital newsroom, but pivoted away from the journalism business in 2023. Since then, the company has become better known for content marketing, though its videos still often go viral. In an effort to generate cash, BuzzFeed went public in late 2021, a decision that turned out to be disastrous, as the company’s stock price has continued to crater. In the first quarter of 2026, the company suffered a net loss of $15m. As of Monday evening, the company’s stock price sits at $0.71 per share. But Allen will be buying 40m shares at $3 per share. “That says something about what he sees in what we’ve built,” Peretti said in an internal memo to BuzzFeed employees about the sale that was obtained by the Guardian. In the memo, Peretti said he would speak directly with employees on Tuesday about the coming cost reductions. BuzzFeed’s two most prominent digital media competitors, Vice Media and Vox Media, have also seen financial challenges since the days when Facebook algorithms helped them generate massive – but difficult to monetise – online audiences.
4. https://m.za.investing.com/news/stock-market-news/byron-allen-to-acquire-majority-stake-in-buzzfeed-for-120m-93CH-4270824?ampMode=1 – BuzzFeed, Inc. (NASDAQ:BZFD) announced Monday that Allen Family Digital, an affiliate of Byron Allen’s family office, will acquire a majority stake in the digital media company for $120 million. Under the transaction agreement, Allen Family Digital will purchase 40 million shares at $3.00 per share, giving it approximately 52% ownership upon closing. The purchase price consists of $20 million in cash at closing and a $100 million promissory note due in five years with 5% annual interest. Byron Allen will assume the roles of Chairman and Chief Executive Officer upon closing, expected by the end of May 2026. Founder and current CEO Jonah Peretti will transition to President of BuzzFeed AI, a newly created position.
5. https://www.portaltela.com/noticias/economia/2026/05/11/buzzfeed-e-vendido-a-byron-allen-ele-assume-ceo-em-acordo-de-us-120-milhoes/ – BuzzFeed is sold to Byron Allen; he takes over as CEO in a $120 million deal. Allen, a media entrepreneur, will replace founder Jonah Peretti as chief executive with ‘significant’ cost cuts to come. Peretti said the company will undergo “significant” cost cuts ahead of Allen’s arrival, which often mean employee layoffs. In the announcement, Allen said his focus will be “expanding into free-streaming video, audio and user-generated content”. Allen, who owns 13 local television networks and 10 HD television networks, suggested that BuzzFeed will use AI to try to compete with YouTube “to become another premiere free video streaming service”.
6. https://www.stocktitan.net/sec-filings/BZFD/8-k-buzz-feed-inc-reports-material-event-3b62a1225fbb.html – BuzzFeed, Inc. agreed to a $120 million majority investment from Allen Family Digital, Byron Allen’s family office, via 40 million new Class A shares at $3.00 per share. The deal includes $20 million in cash at closing and a five-year, 5% $100 million secured promissory note. After the transaction and a conversion of founder Jonah Peretti’s Class B shares, Allen Family Digital is expected to hold about 52% of BuzzFeed’s Class A stock, while Peretti will own about 2%. Byron Allen will become Chairman and Chief Executive Officer, and Peretti will move to President of BuzzFeed AI. Nasdaq granted an exception to its shareholder approval and voting rights policies after the audit committee concluded that delaying the deal for a vote would seriously jeopardize BuzzFeed’s financial viability.
7. https://ts2.tech/en/byron-allens-120-million-buzzfeed-takeover-puts-youtube-ambition-at-center/ – Byron Allen’s $120 Million BuzzFeed Takeover Puts YouTube Ambition at Center. BuzzFeed Inc. said Monday that media entrepreneur Byron Allen’s family office agreed to invest $120