Television

NBCUniversal invests $200 million in Buzzfeed

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MUMBAI: NBCUniversal is stepping up on its digital play. After recently investing $200 million in digital company Vox Media, the company has now made a $200 million equity investment in BuzzFeed, the technology-driven global media company. 

"BuzzFeed has built an exceptional global company that harmonizes technology, data and superior editorial abilities to create and share content in innovative ways. They reach a massive, loyal audience and have proven to be among the most creative, popular and influential new media players. We are pleased to be making this investment and for our companies to partner and work together," said NBCUniversal CEO Steve Burke.

"It's a fascinating time for the media industry; social, mobile, digital, and broadcast platforms are converging to create new opportunities to connect with global audiences, and we're excited to partner with NBCUniversal to combine our respective strengths to build the future of news and entertainment," said BuzzFeed founder and CEO Jonah Peretti.

As part of the investment, the companies will also explore strategic partnerships across both organizations in the coming months.

"BuzzFeed and NBCUniversal will be great strategic partners and we both have a lot to offer the other. We look forward to collaborating on television content, movies, the Olympics, and joint partnerships with ad agencies and brands," said Buzzfeed executive chairman Kenneth Lerer.

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