Getty Images Byron Allen is not only soon going to command a nightly two-hour comedy block on CBS after Late Night with Stephen Colbert ends, but he's also buying BuzzFeed. The television and media businessman is acquiring a majority stake in the digital media company, investing $120 million into it, per Variety, and becoming the CEO. He plans to expand BuzzFeed and HuffPost into "free-streaming video, audio and user-generated content.