As part of the deal, the parties will also explore strategic partnerships across both organizations in the coming months."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.
NBCU Buys $200 MIllion Stake In Buzzfeed
In the second such deal in as many weeks, NBCUniversal is making a $200 million equity investment in BuzzFeed, the digital media outlet known for its listicles and other click bait, but also for its growing ambition in serious news reporting, it was announced this morning.
“BuzzFeed has built an exceptional global company that harmonizes technology, data and superior editorial abilities to create and share content in innovative ways,” said Steve Burke, CEO, NBCUniversal, in a statement.
“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.”
The press release announcing the deal did not say how much of Buzzfeed NBCU is buying for its $200 million.
Buzzfeed claims more than 200 million monthly unique visitors and 1.5 billion monthly video views.
The Buzzfeed deal has been rumored since late July.
BRAND CONNECTIONS
Last week, NBCU announced a $200 million investment in Vox Media, another digital media company whose assets include Vox, food blog Eater, the sports-focused SB Nation and the tech blog Re/code.
As part of the Buzzfeed investment, the parties said they 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,” said Kenneth Lerer, BuzzFeed’s executive chairman. “We look forward to collaborating on television content, movies, the Olympics and joint partnerships with ad agencies and brands.”
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