Byron Allen Closes BuzzFeed Acquisition, Says Company Is Now ‘Officially Chasing YouTube’
Byron Allen has completed his acquisition of BuzzFeed, becoming the majority owner with plans to expand into free-streaming video. He aims to position BuzzFeed as a competitor to YouTube by leveraging AI and existing media assets. Jonah Peretti, the former CEO, will now focus on AI research and innovation within the company.
- ▪Byron Allen purchased approximately 51% of BuzzFeed for $120 million.
- ▪Allen plans to launch a free-streaming platform to rival YouTube.
- ▪Jonah Peretti has taken on the role of president of BuzzFeed AI.
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Home Digital News May 27, 2026 2:02pm PT Byron Allen Closes BuzzFeed Acquisition, Says Company Is Now ‘Officially Chasing YouTube’ By Todd Spangler Plus Icon Todd Spangler NY Digital Editor xpangler Latest Byron Allen Closes BuzzFeed Acquisition, Says Company Is Now ‘Officially Chasing YouTube’ 5 minutes ago Netflix and Spotify Acquire Video Rights to Jay Shetty’s ‘On Purpose’ Podcast in Deal Said to Be Worth up to $100 Million 6 hours ago Roku Unveils Biggest Home Screen Overhaul in More Than a Decade 7 hours ago See All Getty Images/BuzzFeed Media entrepreneur and stand-up comedian Byron Allen now is the majority owner of BuzzFeed — the struggling digital media player that Allen plans to use to launch a free-streaming platform that he imagines will rival video colossus YouTube.
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