# Comedian and media mogul Byron Allen paid $120 million for a 52% stake in online publisher BuzzFeed Inc. Allen’s family office acquired 40 million shares at a price of $3 each.

*business · news · 2026-05-11 · Bloomberg*

## Key points

- Byron Allen acquired a 52% stake in BuzzFeed Inc. for $120 million.
- Allen's family office purchased 40 million BuzzFeed shares at $3 each.
- The deal used $20 million in cash and a $100 million promissory note.
- The promissory note accrues 5% annual interest and matures in five years.

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Comedian and media mogul Byron Allen paid $120 million for a 52% stake in online publisher BuzzFeed Inc. Allen’s family office acquired 40 million shares at a price of $3 each, according to a statementBloomberg Terminal from the company on Monday. The transaction was financed with $20 million in cash and $100 million promissory note due in five years and accruing interest at 5% annually.

[Read the full story on Bloomberg](https://www.bloomberg.com/news/articles/2026-05-11/byron-allen-pays-120-million-for-52-of-buzzfeed-becomes-ceo)

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