NBCU Buys $200M Stake in Vox Media
Comcast’s NBCUniversal unit said it paid $200 million for an equity stack in Vox Media.
NBCU has reportedly been in talks with a number of new media companies including Vox and Buzzfeed. Gaining stake in those companies will help NBCU reach a younger audience that’s spending more time online than with traditional media.
"Vox Media has a great portfolio of premium digital brands that deeply engage broad audiences,” said Steve Burke, CEO, NBCUniversal. “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.”
The eight Vox Media brands are SB Nation, Polygon, The Verge, Vox.com, Eater, Racked, Curbed, and Re/code.
“NBCUniversal is the perfect strategic partner for Vox Media as we continue to rapidly grow our audience and business,” said Jim Bankoff, CEO and chairman, Vox Media. “NBCUniversal’s valuable family of properties align especially well with Vox Media’s authoritative, voice-driven brands which span sports, tech, news, fashion, food, and more. We are extraordinarily excited to collaborate in many areas including video programming, brand advertising, cross-promotion, and platform technology to grow existing properties and launch new franchises.”
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.