NBCU investment values Vox Media at $1 billion
NEW YORK - NBCUniversal is investing $200 million in digital media company Vox Media, whose brands include news site Vox, food blog Eater, the sports-focused SB Nation and the tech blog Re/code.
NBCUniversal, which is owned by Comcast (CMCSA), said Wednesday it hopes to build a partnership with Vox that involves collaborating on editorial content, advertising and technology. A representative declined to comment beyond the announcement.
A person familiar with the matter who was not authorized to comment publicly confirmed that the investment values privately held Vox at $1 billion. For context, The New York Times Co. (NYT), which is publicly traded, is valued at about $2.1 billion.
Philadelphia-based Comcast already has a separate investment in Vox through its venture arm, Comcast Ventures.
The investment comes amid the growing popularity of digital media brands, especially among younger people.
Vox's headquarters are in New York and Washington.