The Byron Allen Buzz: Free Streaming and Distressed Sales in the Media Landscape Byron Allen's acquisition of BuzzFeed is a bold move that marks his entry into the digital media space.
He plans to transform the struggling company into a "premier global free streaming service" by combining its content with his own Weather Channel Local Now streaming service.
The deal, worth $20 million upfront and $100 million in a promissory note, gives Allen control over a brand that has been struggling since its IPO in 2021.