Byron Allen named BuzzFeed CEO, Jonah Peretti to lead AI

Business May 12, 2026

BuzzFeed has sold a controlling stake to media mogul Byron Allen.
Announced Monday, the deal puts Allen in the CEO seat, while founder Jonah Peretti shifts to lead BuzzFeed's AI efforts.
Peretti called Allen "exceptionally well-positioned" to guide BuzzFeed and HuffPost into their next chapter.

Byron Allen buys 40 million BuzzFeed shares

Allen plans to push BuzzFeed into free video streaming, more AI-powered content, and user-driven platforms, basically aiming to take on YouTube.
The company's been struggling lately with a $15 million loss earlier this year, so Allen is buying 40 million shares at $3 each.
Cost cuts (and possible layoffs) are on the table as digital media faces tough times; rivals like Vice and Vox Media are also feeling the squeeze.