Comcast Makes $200 Million Investments in Vox Media, BuzzFeed

7954391652_d56562acb0_bThose two-week-old rumors that Comcast was interested in buying into online media companies came true today.

Re/Code reports that Comcast-owned NBC Universal has sunk $200 million into Vox Media and Buzzfeed:

NBCU and Vox Media are announcing their deal today.

The headline for now: The media giant is investing $200 million in Vox Media, at a pre-money valuation of $850 million, according to several sources. Which is another way of saying Vox Media is now worth more than $1 billion, after raising around $300 million altogether. (NBCU owner Comcast had previously invested in Vox Media, via its investment arm Comcast Ventures.)

BuzzFeed, meanwhile, is expected to be worth $1.5 billion after its NBCU investment, which multiple sources say is also $200 million.

The Buzzfeed deal isn't going to be announced until later this week, but the Vox Media acquisition was officially announced today.

This is actually Comcast's second investment in Vox Media, which counts Comcast's venture capital arm as one of its investors. Vox Media also has investments from General Atlantic, Accel Partners, and Khosla Ventures.

Comcast's rival telecom Verizon has also gotten into the news business with a recent purchase of AOL, which owns the TechCrunch, Engadget, The Huffington Post, and others. And Comcast's other rival Viacom has also long been in the news business through its CBS subsidiary, which owns a stable of news and tech sites as well as Simon & Schuster, a book publisher.

image by screenpunk

About Nate Hoffelder (11466 Articles)
Nate Hoffelder is the founder and editor of The Digital Reader: "I've been into reading ebooks since forever, but I only got my first ereader in July 2007. Everything quickly spiraled out of control from there. Before I started this blog in January 2010 I covered ebooks, ebook readers, and digital publishing for about 2 years as a part of MobileRead Forums. It's a great community, and being a member is a joy. But I thought I could make something out of how I covered the news for MobileRead, so I started this blog."

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