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Allen Media Empire in Expansion - Los Angeles Business Journal
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Allen Media Empire in Expansion - Los Angeles Business Journal
Adding to an extensive portfolio that includes The Weather Channel and HBCU GO, Malibu-based media mogul Byron Allen has officially closed the acquisition of New York-based BuzzFeed Inc. on May 27. Purchased through his investment affiliate Allen Family Digital, the $120 million deal gives Allen 51% control of the troubled media company that brooded on the brink of bankruptcy. BuzzFeed missed a $5 million debt payment deadline at the end of Apri…
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