LOS ANGELES, Aug. 13 (UPI) -- NBCUniversal acquired a stake in Vox Media Wednesday -- a $200 million investment that the broadcast conglomerate had been hinting at for quite some time.
The payment nets NBCUniversal, a subsidiary of Comcast, only about 20 percent of company stock but the partnership will result in unique programming and makes the network part of the Vox digital media brand, NBCUniversal CEO Steve Burke said.
Company officials said advertising revenue will also be an area of focus for the deal.
Wednesday's announcement comes after previous reports that said NBCUniversal has been looking at a number of digital media startups to invest in. The eight Vox Media brands are SB Nation, Polygon, The Verge, Vox.com, Eater, Racked, Curbed, and Re/code.
"Vox Media has a great portfolio of premium digital brands that deeply engage broad audiences," Burke said. "We are excited to be making this investment and building a collaborative partnership involving editorial content, advertising and technology."
"NBCUniversal is the perfect strategic partner for Vox Media as we continue to rapidly grow our audience and business," Vox Media Chairman and CEO Jim Bankoff said. "NBCUniversal's valuable family of properties align especially well with Vox Media's authoritative, voice-driven brands."
The $200 million deal places a value on Vox Media at around $1 billion, The New York Times reported.
NBCUniversal, though, may not be finished investing.
Earlier reports, which speculated on the Vox deal, also said the media conglomerate is also looking into a similar investment in the website BuzzFeed.
