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Business News/ Companies / News/  NBCUniversal set to invest $250 mn in Buzzfeed, valuing it at $1.5 bn: report
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NBCUniversal set to invest $250 mn in Buzzfeed, valuing it at $1.5 bn: report

News website Re/code, citing unnamed sources, said Comcast's TV and film unit has a handshake agreement with BuzzFeed

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NBCUniversal Inc. is close to a deal to invest $250 million in BuzzFeed Inc., in a transaction that will value the social news and entertainment site at around $1.5 billion, according to a report.

News webside Re/code, citing unnamed sources, said Comcast’s TV and film unit has a “handshake" agreement with BuzzFeed, which raised $50 million last year at a $850 million valuation.

NBCUniversal also is negotiating to invest in Vox Media, the owners of Re/code, in a deal that would value Vox at $850 million. The report added that there is a possibility that negotiations could fall apart, but that both investments were close to being consummated.

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Published: 30 Jul 2015, 09:24 PM IST
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