NBCUniversal-Comcast will invest $200 million in Vox Media

Steve Burke

Steve Burke, Chief Executive of NBCUniversal

The company will invest $ 200 million in Vox Media, owner of several online premium brands. The maneuver would give NBCU participation in media that are not totally dependent on video with advertising at a time when that business (their main source of income) is in the process of change.

“Vox Media has a great portfolio of premium digital brands that deeply engage with a wider audience. It has strong leadership, great editorial talent and a unique technology platform. We are excited to make this investment and build a collaborative partnership that involves editorial content, advertising and technology,” expressed Steve Burke, NBCUniversal Chief Executive, in a press release. NBCU’s investment would give a stake of less than 50% in Vox.

The CEO and chairman of Vox Media, Jim Bankoff, added: “NBCUniversal is the perfect strategic partner for Vox Media as we continue with the rapid growth of our audience and our businesses. The Family of properties of NBCUniversal aligns especially well with the Vox Media brands that include sports, technology, news, fashion, food and more. We are extremely excited to collaborate in many areas, including video programming, brand advertising, cross-promotion and technology platform to grow our existing properties and launch new franchises.

Steve Burke CEO NBC Universal

Comments are closed.