Comcast Makes $200 Million Investments in Vox Media, BuzzFeed
Those 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.
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