Byron Allen to Acquire BuzzFeed for $120M, Become CEO
BZFD•Byron Allen’s Allen Media Group will invest $120 million to acquire majority ownership of BuzzFeed, granting full control over its news and entertainment platforms. The transaction, slated to close in Q3 2026, includes Allen assuming the role of CEO and consolidating leadership across his media holdings.
1. Deal Terms
Allen Media Group will invest $120 million to purchase a majority stake in BuzzFeed, acquiring control of its news, entertainment, and branded content divisions. The agreement grants Allen full voting rights and is expected to finalize in Q3 2026, subject to standard regulatory approvals.
2. Leadership Transition
Upon closing, Byron Allen will replace the current executive leadership as CEO of BuzzFeed, centralizing decision-making across his media properties. This leadership change aims to streamline operations and integrate BuzzFeed’s digital audience with Allen Media’s existing platforms.
3. Strategic Implications
The acquisition expands Allen’s media empire, adding BuzzFeed’s 200 million monthly unique visitors to his portfolio, which includes TheGrio and Weather Group properties. Executives anticipate cross-platform content synergies, enhanced ad sales scale, and potential cost savings through consolidated tech and editorial resources.
