Byron Allen now is the majority owner of BuzzFeed -- the struggling digital media player that Allen plans to use to launch a free-streaming platform that he imagines will rival video colossus YouTube.

BuzzFeed, Inc. Completes Majority Stake Investment by Byron Allen's Family Office, Positioning Company for Next Era of Growth

Byron Allen now is the majority owner of BuzzFeed -- the struggling digital media player that Allen plans to use to launch a free-streaming platform that he imagines will rival…