NBCUniversal, a subsidiary of cable operator Comcast (NASDAQ:CMCSA), has invested US$200 million in Vox Media, owner of several online news sites including The Verge and Re / code, according to a joint statement Published Wednesday, August 12 by the two companies.
“Vox Media has a great portfolio of premium digital brands that deeply engage broad audiences. Vox Media has strong leadership, top editorial talent and a unique technology platform. We are excited to be making this investment and building a collaborative partnership involving editorial content, advertising and technology,” said NBCUniversal’s CEO, Steve Burke in a statement.
The video website Vice Media obtained US$500 million last year from A & E Networks, a cable TV channel, and TCV investment funds, in accordance with a total fundraising effort of US$2.5 billion.
According to Re / Code, NBCUniversal is also preparing to invest US$200 million in the enterntainment news website Buzzfeed, which would increase the value of the latter to $ 1.5 billion, against US$850 in accordance with an earlier fund raising effort from last year.
For its part, Vox has welcomed Comcast’s involvement, noting that it can help the video company enhance its capability and distribution:
“NBCUniversal is obviously a huge television and entertainment company, so there are a lot of assets they can provide with distribution and production both online and on linear networks as well….Our industry is evolving so quickly, and we think this will give us the resources to be independent and strong throughout all the changes,” said Vox Chairman and Chief Executive Jim Bankoff.in an interview by the Wall Street Journal.
On Wall Street, the action Comcast was trading slightly higher at US$59.53.