Byron Allen taking over as BuzzFeed CEO after…
BuzzFeed said Monday media entrepreneur Byron Allen will take over as the digital media company’s next CEO after he entered into a deal to buy a stake of about 52% in the digital media company for $120 million.
Shares of BuzzFeed soared about 156% in prolonged trading.
The company has been grappling with a money crunch as advertisers more and more shift spending to social media platforms such as TikTok and Meta Platforms’ Instagram.
Media entrepreneur Byron Allen acquired a 52$ stake in BuzzFeed for $120 million. Getty Images for Blueprint Capital…
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