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Byron Allen Acquiring BuzzFeed

U

umfan

www.arcamax.com

Entertainment mogul Byron Allen to acquire Buzzfeed, HuffPost

Digital entertainment company BuzzFeed Inc. is selling its majority stake to Los Angeles entertainment mogul Byron Allen for $120 million.
www.arcamax.com www.arcamax.com

The $100M he is paying effectively on land contract is not likely to ever be paid. The fact that HuffPost is part of this makes what AOL paid for it so many years ago look like one of the most incompetent transactions in history. Allen really cannot do any worse with BuzzFeed that its current management has, but that is more of an indictment on the current management than it is any indication that Allen brings anything competent to the table.
 


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