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Comcast puts US$200mln into BuzzFeed in latest investment

Last updated: 19:38 18 Aug 2015 BST, First published: 17:38 18 Aug 2015 BST

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It comes just days after Comcast revealed it had put the same amount into Buzzfeed's rival - Vox Media

NBCUniversal, a subsidiary of cable operator Comcast (NASDAQ:CMCSA), has invested again in new and trending media formats -  by putting US$200mln into BuzzFeed.

It comes just days after Comcast revealed it had put the same amount into Buzzfeed's rival - Vox Media - which also has a strong user base between the ages of 18 and 34 and consists of  websites focused on such things as sport, politics, food and technology.

One of the attractions of Buzzfeed is its strong online video element, it was reported.

Jonah Peretti, BuzzFeed’s founder and chief executive, said: "It’s a fascinating time for the media industry; social, mobile, digital, and broadcast platforms are converging to create new opportunities to connect with global audiences, and we’re excited to partner with NBCUniversal to combine our respective strengths to build the future of news and entertainment."

Both Buzzfeed and NBC said they would explore strategic partnerships in the coming months.

Comcast is trying to find new viewers as it has emerged that younger  people are simply not watching as much TV as past generations.

NBCUniversal owns channels like USA, Bravo, E! and MSNBC.

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