What Byron Allen Has Planned for Buzzfeed, Late-Night Show
Speakers
Byron Allen
— Founder, Chairman and CEO, Allen Media Group
Summary
Byron Allen discusses his acquisition of a majority stake in BuzzFeed and his plan to turn it into a free-streaming super app competing with YouTube. He also talks about taking over the late-night time slot previously held by Stephen Colbert. Allen explains his strategy of leveraging his Local Now technology and content library to revive the BuzzFeed brand.
- Byron Allen acquired a majority stake in BuzzFeed for about $3 per share.
- He plans to transform BuzzFeed into a free streaming platform competing with YouTube.
- Allen will integrate his existing Local Now technology and content library into BuzzFeed.
- He highlights cross-promotion opportunities via his television shows and affiliates.
- Allen also discusses taking over the CBS late-night time slot with his own shows.
- He emphasizes his long-term vision of building a large media company through acquisitions.
Trade Ideas
Buy BuzzFeed for streaming transformation.
Byron Allen acquired a 52% stake in BuzzFeed at $3 per share. He plans to turn BuzzFeed into a free streaming super app by integrating his Local Now technology and content library, aiming to compete with YouTube. He believes the brand can be revived through direct-to-consumer streaming, leveraging cross-promotion from his TV properties.
Up Next
This Bloomberg Markets video, published May 19, 2026, features Byron Allen discussing BuzzFeed. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Byron Allen · Tickers: BuzzFeed