Correction: Time range was corrected to reflect BuzzFeed's time as a public company. Data: Financial Modeling Prep; Chart: Christine Wang/Axios
Byron Allen, a media entrepreneur known for aggressively trying to roll up various media assets, on Monday announced a deal to buy a majority stake in BuzzFeed.
Why it matters: The deal gives the 20-year-old digital publisher a much-needed lifeline. Without a buyer, the company likely would've been forced to file for bankruptcy.
