Jonah Peretti Sells Majority Stake in BuzzFeed for $120 Million
BuzzFeed's CEO, Jonah Peretti, has agreed to sell a majority stake (52%) of the company to Byron Allen, owner of The Weather Channel and other media assets, for $120 million. This deal provides financial stability after BuzzFeed faced cash flow risks last quarter.
Topics: CEO Transition Digital Media Industry Mergers & Acquisitions