Byron Allen Closes BuzzFeed Acquisition, Says Company Is Now ‘Officially Chasing YouTube’

Todd Spangler· May 27, 2026 · 9:02 PM UTC ·4 min read · 0 reactions · 0 comments · 98 views

#media #technology #streaming #Byron Allen #BuzzFeed #Jonah Peretti #HuffPost #Allen Media Group

TL;DR · WeSearch summary

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.

Key facts

▪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.

How this story was covered

2 outlets in our directory ran this story, first to last over 1 hour. All of the coverage we found sits in one bucket: lean left. That one-sidedness is itself worth noticing.

Lean left · 1

▪ Byron Allen Closes Deal For Majority Stake In BuzzFeed — Deadline

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Variety · Todd Spangler

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Original publisher	Variety
Canonical URL	https://variety.com/2026/digital/news/byron-allen-closes-buzzfeed-acquisition-youtube-1236760268/
Publication time	Wed, 27 May 2026 21:02:28 +0000
Retrieval time	2026-05-27T21:08:04.683Z
Last seen	2026-05-27T21:08:04.683Z
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Cluster	IGRbhtn8EMwF · 2 stories
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Publisher visit	Yes — open original
Substitutes article?	No — link-out required for full text

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Opening excerpt (first ~120 words) tap to expand

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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Excerpt limited to ~120 words for fair-use compliance. The full article is at Variety.

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