NBCUniversal close to investing in BuzzFeed: source
Reuters
Published Jul 30, 2015 04:46PM ET
NBCUniversal close to investing in BuzzFeed: source
LOS ANGELES (Reuters) - Comcast Corp's (O:CMCSA) NBCUniversal film and television unit is close to making an investment in online publisher BuzzFeed and is in talks to raise its stake in Vox Media, a person with knowledge of both sets of discussions said on Thursday.
The company is negotiating to inject $250 million into BuzzFeed, according to the Re/code tech news website, which first reported that NBCUniversal was poised to invest in the digital media companies. That would value BuzzFeed at about $1.5 billion, Re/code said.
The discussions are more advanced with BuzzFeed than with Vox, according to the person with knowledge of the talks. Re/code said NBCUniversal's potential investment in Vox would value the digital company at $850 million. Comcast already owns a minority stake in Vox.
Spokespeople for NBCU, BuzzFeed and Vox declined to comment.
BuzzFeed and Vox have built audiences among younger internet-focused consumers who are less likely to watch traditional television. BuzzFeed, known for online list-based articles and quizzes, has expanded into news, video and film. Vox owns several websites, including technology-focused The Verge and Re/code.
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