Published On: Thu, Aug 13th, 2015

Comcast invests $200 million in Vox Media, Valuing the Digital media at $1 billion

Comcast (NASDAQ: CMCSA) Chairman and CEO  Brian Roberts

 

Comcast Corp’s NBC Universal, will make an additional $200 million strategic investment in Vox Media,  and creating a partnership to help the television giant better connect with younger audiences, the companies said Wednesday.

The investment will give Vox Media a post-money valuation of about $1 billion, a person familiar with the situation told WSJ.

Comcast already owned about 14% of Vox, through its venture capital arm and other units, will increase its holdings but remain a minority investor, the report said.

NBCUniversal, which owns channels such as USA, Bravo, E! and MSNBC, has struggled like other media companies with declining viewership among younger audiences who are increasingly watching video online and dropping cable connections.

Vox Media, which is made up of eight websites focused on sports, politics, food, fashion and technology, has gained strong traction among younger readers, with 41% of its combined 54.1 million unique visitors in June falling between the ages of 18 and 34, according to comScore Inc.

“Vox Media has a great portfolio of premium digital brands that deeply engage broad audiences, ” Steve Burke, CEO of NBCUniversal, said in a statement. “Vox Media has strong leadership, top editorial talent and a unique technology platform. We are excited to be making this investment and building a collaborative partnership involving editorial content, advertising and technology.”

Read more:

An expanded version of this report appears at WSJ.com.

 

Comcast

Brian Roberts Comcast

Cable giant Comcast said early Monday

that it plans to launch a streaming TV service

dubbed Stream. It will let its Xfinity broadband

customers, for $15 a month in addition to their

Internet bill, watchabout More…

Robert Rob Marcus  ,   Time Warner Cable

Time Warner Cable Inc. reported disappointing

profit and revenue for the first quarter, though

the company posted strong subscriber growth

and added video customers in a quarter for the

first time since More…

Brian Roberts Comcast

Comcast (NASDAQ: CMCSA) Chairman and CEO

Brian Roberts responded to speculation that his

company’s top attorney, David L. Cohen, might end

up as the fall guy for a failed merger attempt with

Time Warner Cable More…

TIME WARNER CABLE logo

Comcast Corp. abandoned its $45 billion offer for

Time Warner Cable after U.S. regulators raised

concerns that the deal would give Comcast an unfair

advantage in the cable TV and Internet-based services

market. Charter More…

SunTrust Park

The Atlanta Braves and Comcast today announced

a multi-year technology and real estate partnership

that will deliver multi-terabit network capabilities to

SunTrust Park and the surrounding community,

making it More…

Netflix

With the proposed merger between Comcast and

Time Warner creating controversy and serious

questions for the FCC and Department of Justice,

there may be similar deals that are easier for the

public and regulators More…

Byron Allen

Television producer Byron Allen, along with the

National Association of African American Owned

Media, is suing Rev. Al Sharpton, Comcast and

Time Warner Cable for $20 billion, as reported

by politics365.com. At More…

Brian Roberts Comcast

Comcast isn’t satisfied with its bid for Time

Warner Cable, which is being reviewed by the

FCC; it wasn’t to get a slice of the mobile pie.

On a conference call, Comcast CEO Brian Roberts

hinted that More…

Read more about: , , , ,

Wordpress site Developed by Fixing WordPress Problems