NBCUniversal has confirmed plans to invest US$200 million in online publisher BuzzFeed.
The news comes less than a month after reports emerged that NBCUniversal was in talks to invest in BuzzFeed, and under a week after it invested $200 million in digital media company Vox Media, which owns technology site The Verge and news site Vox.com, among other brands. NBCUniversal’s deal with BuzzFeed is expected to value the online publisher at about $1.5 billion.
The Comcast-owned film and television company will also explore “strategic partnerships” with BuzzFeed in the months ahead. The two companies are planning to collaborate on branded content and Olympics coverage, presumably beginning with next year’s Summer Games in Rio de Janeiro, Brazil. NBCUniversal owns the U.S. broadcast rights to the Olympics through 2032.
“They reach a massive, loyal audience and have proven to be among the most creative, popular and influential new media players,” said NBCUniversal CEO Steve Burke in a statement. “We are pleased to be making this investment and for our companies to partner and work together.”
“BuzzFeed and NBCUniversal will be great strategic partners and we both have a lot to offer the other,” added Kenneth Lerer, BuzzFeed’s executive chairman. “We look forward to collaborating on television content, movies, the Olympics and joint partnerships with ad agencies and brands.”
BuzzFeed reaches more than 200 million monthly unique visitors and has 1.5 billion monthly video views.