Byron Allen on How He Plans to Use BuzzFeed to Create a ‘Premier Global Free Streaming Service,’ What It Means to Be Taking Over Colbert’s CBS Time Slot and Why He Wants to Buy Starz

May 14, 2026 2:48pm PT Byron Allen on How He Plans to Use BuzzFeed to Create a ‘Premier Global Free Streaming Service,’ What It Means to Be Taking Over Colbert’s CBS Time Slot and Why He Wants to Buy Starz

By Todd Spangler

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Todd Spangler

NY Digital Editor

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With two recent deals, Byron Allen has elevated his profile in both late-night TV and the digital media space. He’s about to take control of struggling media company BuzzFeed, and next week he is getting the the CBS time slot that is being vacated this month by “The Late Show With Stephen Colbert” after the network canceled it.

Allen, a former stand-up comedian whose Allen Media Group owns 13 local TV stations, The Weather Channel and other media properties, earlier this week announced a deal to acquire a 52% controlling stake in BuzzFeed. He’s paying $20 million in cash up front, plus $100 million in a promissory note due in five years.