In the past, BuzzFeed was the future of media. But in 2026, BuzzFeed looks just about done. In March, the digital publisher told investors it was running out of money and was looking for "strategic options." On Monday, it announced the option it settled on: It will sell a majority stake to media entrepreneur Byron Allen for $120 million . We can talk about the deal, slated to close later this month, in a minute. But first, the requisite big picture: A decade ago, BuzzFeed, along with other