In the not-exactly-news department given that we wrote about rumors this would happen two weeks ago, but NBCUniversal today made it official – the old-guard media giant is investing $200 million in Vox Media, and is just about to announce a similar investment in BuzzFeed.
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The deal values Vox at $1 billion, according to a person with knowledge of the matter who wasn’t authorized to speak publicly and asked not to be named.
This isn’t Comcast’s first stake in Vox Media, which had previously taken an investment from Comcast’s venture capital arm. “Vox Media has strong leadership, top editorial talent and a unique technology platform”.
Burke said the deal will pave the way to a “collaborative partnership involving editorial content, advertising and technology”.
Alongside Eater (dining and nightlife) and Vox.com (news), Vox Media operates the brands SB Nation (sports), Polygon (gaming), The Verge (tech and culture), Racked (shopping, beauty and fashion), Curbed (real estate, home and design) and Re/code (technology and business). NBCU had a minority stake in that last outlet until May, when the site was acquired by Vox.
While some big media companies make outright acquisitions, investments offer the chance to learn about the new digital landscape and benefit from a company’s growth without taking on as much risk. In March, the company launched Vox Entertainment, an L.A.-based video programming division, with an eye on expanding on its original content offerings across its various brands.
Re/code, reporting on the story, said Vox and NBCUniversal will collaborate on digital advertising through a pre-existing partnership.
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Buzzfeed is also expected to get a $200 million investment from NBCUniversal. A spokeswoman for NBCU did not immediately respond to a request for comment.
