NBCUniversal to invest in Vox, BuzzFeed

NBCUniversal to invest in Vox, BuzzFeed

Comcast’s NBCUniversal has finished long-rumored deals to invest hundreds of millions of dollars in BuzzFeed and Vox Media.

NBCUniversal will increase by $200 million its stake in Vox. Comcast Ventures, the firm’s investment arm, had previously invested in the digital media brand, which owns sites like The Verge and Vox.

ADVERTISEMENT

“Vox Media has a great portfolio of premium digital brands that deeply engage broad audiences,” NBCUniversal CEO Steve Burke said in a statement. “We are excited to be making this investment and building a collaborative partnership involving editorial content, advertising and technology.”

Re/code also reported on Wednesday that NBCUniversal had finished a deal to invest $200 million in BuzzFeed, a site that built its initial success through viral posts and has become one of the most popular news sites on the Web.

The report comes on the same day that Gawker published financial data purportedly from BuzzFeed showing its revenue tripled from 2012 to 2013.

The deals allow Comcast to further diversify its business interests at a time when it has more Internet than television subscribers. They also could give the digital media brands a foothold in television.

Comcast, a major player in Washington, has reportedly been exploring the investments throughout summer. The Wall Street Journal reported in July that the company was also talking to Vice and Business Insider.