In a bid to “tap into millennial audiences,” Comcast’s NBCU will invest $250 million in a digital publishing company, report Kara Swisher and Peter Kafka at re/code.

Says the story, “Sources say Comcast’s TV and film unit has a “handshake” agreement with BuzzFeed, which raised $50 million last year at a $850 million valuation. NBCU also is negotiating to invest in Vox Media, which owns this website, in a deal that would value Vox at $850 million. Last fall Vox Media raised money at a $380 million valuation.”

The story notes that one of the entities Vox Media owns is re/code.

Write Swisher and Kafka, “People familiar with the proposed deals say they’re part of a new effort from NBCU CEO Steve Burke to bet on digital outlets he thinks can tap into millennial audiences, who are tuning out of NBCU’s TV networks and most others. The idea is that NBCU can get a crash course on digital content and distribution from its new investments — and that those companies may want to distribute some of NBCU’s content as well.”

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