Business Insider
US · 2 hrs ago
✦ 78◉ Centre
BuzzFeed's fire sale to Byron Allen marks the end of an era
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Accuracy 78/100
Partisan intensity 35/100
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◉ Centre ✓ Fair headline
Byron Allen is acquiring a controlling stake in BuzzFeed, marking a significant decline for the once-promising digital media company that was expected to transform the industry but has instead faced financial struggles alongside other digital-native publishers.
BuzzFeed's fire sale to Byron Allen marks the end of an era
Byron Allen wanted to buy Paramount. Now he's buying a controlling stake in BuzzFeed.
Paras Griffin/Getty Images
Go back in time to 2016: BuzzFeed, Vice Media, and Vox Media are supposed to be the future of media.
Now back to present tense: Vice filed for Chapter 11, Vox is breaking up, and BuzzFeed just sold itself for a fraction of its former value.
Meanwhile, many of the companies the digital upstarts were supposed to replace — big publishers and TV companies — are still here.
In the past,
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