Byron Allen Buying Buzzfeed, Taking Over As CEO
Byron Allen is buying a controlling stake in BuzzFeed and becoming its chief executive, taking over from BuzzFeed founder Jonah Peretti, according to The New York Times. The announcement came on Monday, 11 May, when it was also shared that Allen will pay $120 million for a 52 percent stake in BuzzFeed. Bryon Allen purchasing a stake […] The post Byron Allen Buying Buzzfeed, Taking Over As CEO appeared first on POCIT. Telling the stories and thoughts of the underrepresented in tech..
Black News 
Byron Allen is buying a controlling stake in BuzzFeed and becoming its chief executive, taking over from BuzzFeed founder Jonah Peretti, according to The New York Times. The announcement came on Monday, 11 May, when it was also shared that Allen will pay $120 million for a 52 percent stake in BuzzFeed.
Bryon Allen purchasing a stake in Buzzfeed
Allen shared in the announcement that he will focus on increasing free-streaming video, audio, and user-generated content. “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, as per the Guardian.
About Allen Media Group
Allen is the chief executive of Allen Media Group, a news and entertainment company with a portfolio that includes weather channels and local TV stations. Allen recently invested a 10.7% stake in Starz, according to Deadline. Allen’s Media Group includes 28 stations affiliated with ABC, NBC, CBS, and Fox, operating in 21 US markets.
Over the past six years, the company has invested more than $1 billion to acquire stations, aiming to become the largest independent television operator in the United States. Its portfolio includes 28 stations affiliated with ABC, NBC, CBS, and Fox, operating in 21 US markets.
Image:
The post Byron Allen Buying Buzzfeed, Taking Over As CEO appeared first on POCIT. Telling the stories and thoughts of the underrepresented in tech..
