Byron Allen strikes deal to buy controlling stake in BuzzFeed and become CEO
Data: Financial Modeling Prep; Chart: Christine Wang/AxiosByron Allen, a media entrepreneur known for aggressively trying to roll up various media assets, on Monday announced a deal to buy a majority stake in BuzzFeed. Why it matters: The deal gives the 20-year-old digital publisher a much-needed lifeline. Without a buyer, the company likely would've been forced to file for bankruptcy.BuzzFeed's stock has been trading under $1 and the company was warned earlier this year it is at risk of being d...
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