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Comcast’s NBCUniversal said it will make a $200 million equity investment in social-driven media company BuzzFeed, as part of the Peacock’s efforts to reach younger, digital-native consumers.
The announcement comes a week after NBCU said it was investing $200 million in digital publisher Vox Media.
NBCU and BuzzFeed said that as part of the investment, which brings BuzzFeed to nearly $300 million raised to date and values the company at around $1.5 billion, the companies will explore strategic partnerships in the coming months. “We look forward to collaborating on television content, movies, the Olympics, and joint partnerships with ad agencies and brands,” BuzzFeed exec chairman Ken Lerer said in announcing the pact.
BuzzFeed may be the quintessential digital-media company, but it looks increasingly like it will wind up being a subsidiary of Comcast-owned media and entertainment behemoth NBCUniversal.
According to multiple reports, NBC is close to investing another $200 million in the company. Both the Wall Street Journal and Recode say the investment is being finalized now, and that it will value BuzzFeed at about $1.7 billion.
originally posted by: Chadwickus
a reply to: xuenchen
It's lucky then, that Buzzfeed has said that these reports remain unverified then, right?
LOL... do tell what Trumps businesses are
A fascist is one whose lust for money or power is combined with such an intensity of intolerance toward those of other racesparties classesreligions cultures regions or nations as to make him ruthless in his use of deceit or violence to attain his ends. ~ Henry Wallace