NBCUniversal will invest heavily in a thriving digital media company. NBCU owner Comcast confirmed that the company will invest $200 million in Vox Media, Variety reports.
The move “will give the company a stake in a passel of media assets that are not wholly dependent on ad-supported video at a time when that business, the company’s main source of income, is in flux,” the Variety report notes.
The report adds: “The pact will tie NBCU more closely with Vox sites like The Verge, SB Nation, Curbed, Racked and tech-news site Re/code. NBCU had a minority stake in that last outlet until May, when the site was acquired by Vox.”
Details about how the companies might collaborate were not forthcoming, but NBCU will reportedly control less than 50% of Vox. In a statement, NBCUniversal CEO Steve Burke said: “Vox Media has a great portfolio of premium digital brands that deeply engage broad audiences.”