NBCUniversal officially made a big investment in another media group Wednesday, putting $200 million into Vox Media.
NPR's David Folkenflik reports that Vox's value post-investment is nearly $1 billion. "Vox Media is the home to sites about sports, real estate, fashion, tech, as well as policy and politics," he says.
David spoke with Vox CEO Jim Bankoff, who said that the two sides will be "producing video programming for our respective audiences, producing brand advertisers that are looking to achieve premium audiences." According to Bankoff, Vox will remain independent as Comcast — the parent company of NBC — will hold only about a third of Vox's shares.
David notes that Vox reporters could appear on MSNBC, CNBC and NBC Sports. It could create its own programming, too.
BuzzFeed is also expected to get a $200 million investment from NBCUniversal. That deal hasn't been announced yet.
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