The Biz Reaper

If Byron Allen shows up at your door, you did something wrong with your media business. And BuzzFeed has a visitor. Also: I built a thing.I have written quite a few times over the years about Byron Allen, the legendary television business model exploiter who has managed to build an island of misfit toys into a business empire of his own.Allen is a unique figure in media, because he can effectively maximize distressed assets—most infamously of late, the time slot soon to be vacated by Stephen Colbert.But it’s not like he’s necessarily in it for the art of the whole thing; he is a man who understands business models in distress and how to execute on them. Which is why his decision to acquire BuzzFeed feels like something of an admission of how far BuzzFeed has fallen.Peretti, with a slide that was not going to come back to bite him at all. (TechCrunch/Flickr)Jonah Peretti, until now BuzzFeed’s leader, [had this to say](Byron’s vision, operational experience, and long-term commitment to…