Entertainment mogul Byron Allen has no plans to slow down. After acquiring TheGrio, the Weather Channel, and soon moving into late-night television, Allen has now taken majority control of BuzzFeed.
The $120 million deal includes a 52 percent majority stake in BuzzFeed and establishes him as the company’s new CEO. This agreement also gives him a controlling percentage of HuffPost.
This purchase is a result of his plans to use BuzzFeed and other media platforms under the Allen Media Group to create what he calls a “premier free video streaming service”. He has most recently expressed his interest in purchasing Staz, expanding his reach over broadcast television, streaming, and digital media.
