Date
21 October 2017
BuzzFeed is valued at US$1.5 billion under the proposed NBCUniversal deal. Photo: Reuters
BuzzFeed is valued at US$1.5 billion under the proposed NBCUniversal deal. Photo: Reuters

Comcast unit to inject US$250 mln into BuzzFeed

NBCUniversal, the film and television unit of US media giant Comcast Corp., is close to a deal on a US$250 million investment in online publisher BuzzFeed.

Also, it’s in talks to raise its stake in Vox Media, according to a person with knowledge of both sets of discussions cited by Reuters.

The company is negotiating to inject US$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 US$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 US$850 million.

Comcast already owns a minority stake in Vox.

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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