BuzzFeed sold to Byron Allen for $120 million
BuzzFeed is sold to media entrepreneur Byron Allen for $120 million, who will replace founder Jonah Peretti as CEO. The deal comes amid plans for significant cost cuts as Allen aims to revitalise the company, which was once valued at $1.7 billion during its peak. Allen also controls the Allen Media Group, which includes The Weather Channel.
Read the full story at The Guardian AU→