Comcast's NBCUniversal Invests $200M in Vox Media
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.