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Byron Allen has seized the keys to BuzzFeed, and he’s driving straight at YouTube. With the $120 million deal now closed, the media mogul holds nearly 51% ownership and a blazing ambition: to build the “premier free-streaming video service.”
Backed by Allen Media Group’s 650 ad-supported channels, Local Now’s geo-targeted content, and an aggressive AI strategy, he’s betting on a new kind of destination, where user-generated energy meets studio-scale scale.
Jonah Peretti, stepping aside after two decades, calls AI “enormous.” Allen simply calls it his engine. YouTube still has a huge head start, but Allen is offering creators something different: a shot at broadcast-level reach without a paywall.
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