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Media mogul Byron Allen is acquiring digital media company BuzzFeed and will become its CEO. The deal marks a new ownership chapter for the once-high-flying digital publisher known for quizzes, listicles, and news content.
Media mogul Byron Allen has agreed to acquire a controlling stake in BuzzFeed, the digital media company known for viral content and quizzes. The deal marks a significant shift for BuzzFeed, which has struggled with profitability and a declining stock price since going public. Allen plans to integrate BuzzFeed into his broader media portfolio.