NBCUniversal to invest in Buzzfeed, Vox
Media conglomerate NBCUniversal is close to closing a deal with web-based publishers Buzzfeed and Vox Media. The deals would value Buzzfeed at $1.5 billion and Vox at $850 million.
The negotiations aren't closed yet, but sources say Buzzfeed made a "handshake" deal with the conglomerate.
Recode reported that these deals are part of NBCU's CEO Steve Burke's attempt to invest in media that connects with the "millenial" market.
Facts about buzzfeed and vox:
Buzzfeed brought in $100 million in revenue last year, and sources say they're projecting $250 million this year.
Buzzfeed CEO Jonah Peretti says the company is interested in pursuing television. “Television and film are areas that could be initial places where we could experiment,” he said at Code Conference in May.