Jonah Peretti Resigns as BuzzFeed CEO Amid Major Control Investment by Allen Family Digital

On May 11, 2026, Jonah Peretti, LLC filed a Schedule 13D/A regarding its holdings in BuzzFeed, Inc. (BZFD). The filing details a major corporate restructuring following a Stock Purchase Agreement with Allen Family Digital, LLC (AFD). Under the agreement, AFD will acquire 40,000,000 shares of Class A Common Stock for $120 million, resulting in AFD owning approximately 52% of the company. In connection with this transaction, Jonah Peretti resigned as CEO and Chairman, transitioning to a role as President of BuzzFeed AI while remaining a Class I director. Jonah Peretti, LLC agreed to convert all 1,309,354 of its Class B shares into Class A Common Stock. Post-transaction, Peretti's beneficial ownership is expected to be approximately 2.1% on a pro forma basis, down from the 3.5% reported prior to the dilutive effects of the AFD investment. Additionally, a Director Appointment Agreement grants AFD the right to appoint a majority of the board, and the existing Holder Voting Agreement among Peretti and John S. Johnson, III will terminate.