UPDATED with deal close: Allen Family Digital, an affiliate of Byron Allen’s family office, has closed its deal to acquire to acquire a majority stake in digital media company Buzzfeed with Byron Allen becoming chairman and CEO. Current chief executive and co-founder Jonah Peretti will transition to a newly created role as president of 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. “Our vision is to build on the iconic foundation of BuzzFeed and HuffPost by expanding into free-streaming […]