NBCUniversal Closing In On a $250 Million BuzzFeed Deal

NBCUniversal is nearing a deal to take a position $250 million in BuzzFeed, consistent with Re/code. The media conglomerate can also be deep in negotiations with Vox Media, an investment that would carry the web publisher’s valuation to $850 million.

Re/code experiences that NBCUniversal has a “handshake” agreement with BuzzFeed, with a view to be valued at $1.5 billion if the deal goes thru. Sources conversant in the matter instructed Re/code that both the BuzzFeed and Vox investments are as regards to being finalized.

The news comes per week after the Wall side road Journal alleged that NBCUniversal was once talking to a couple of on-line media companies in a ploy to raised goal millennial audiences. As Re/code writes, the company needs a brand new solution to win back young eyeballs:

folks acquainted with the proposed deals say they’re a part of a brand new effort from NBCU CEO Steve Burke to bet on digital outlets he thinks can tap into Millennial audiences, who’re tuning out of NBCU’s television networks and most others. the theory is that NBCU can get a crash direction on digital content material and distribution from its new investments — and that those companies could want to distribute a few of NBCU’s content material as well.

BuzzFeed is already value $850 million, having raised $50 million last 12 months from major mission capital agency Andreessen Horowitz; Vox Media is presently valued at $380 million.

read more in regards to the deal over at Re/code.