Com­cast's NBCUniver­sal In­vests $200M in Vox Media

The Pak Banker - - COMPANIES/BOSS -

NBCUniver­sal, part of Com­cast Corp., said it made a $200 mil­lion eq­uity in­vest­ment in Vox Media, the online pub­lisher of The Verge, Eater and Re/code.

The deal val­ues Vox at $1 bil­lion, ac­cord­ing to a per­son with knowl­edge of the mat­ter who wasn't au­tho­rized to speak pub­licly and asked not to be named. NBCUniver­sal de­clined to com­ment on terms be­yond those in a state­ment Wed­nes­day.

"Vox Media has a great port­fo­lio of pre­mium dig­i­tal brands that deeply en­gage broad au­di­ences," Steve Burke, chief ex­ec­u­tive of­fi­cer of NBCUniver­sal, said in the state­ment. Philadelphia-based Com­cast is the largest ca­ble-TV provider in the U.S. The deal is the latest in a se­ries in which tra­di­tional en­ter­tain­ment com­pa­nies have in­vested in online prop­er­ties to cap­ture the growth in dig­i­tal advertising and hedge their bets in a rapidly chang­ing media world.

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