NBCU makes strategic investment in Vox Media
| 13 August 2015
US entertainment giant NBCUniversal has enhanced its digital media proposition with a $200 million equity investment in Vox Media, owner of a number of premium online brands.
Vox's portfolio is strong among the increasingly crucial millennial demographic and claims to have a reach of 165 million 'affluent and educated' young adults worldwide. The company's investors include Accel Partners, Comcast Ventures, Khosla Ventures, and General Atlantic. It also has eight media brands including: sports channel SB Nation; Polygon (gaming); technology and culture site The Verge; Vox.com for news; dining and nightlife hub Eater; shopping, beauty and fashion channel Racked; Curbed, which covers real estate, design and home; and Re/code for technology and business.
"Vox Media has a great portfolio of premium digital brands that deeply engage broad audiences," said Steve Burke, CEO, NBCUniversal, outlining the rationale for the investment. "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."
Added Vox Media CEO and chairman Jim Bankoff: "NBCUniversal is the perfect strategic partner for Vox Media as we continue to rapidly grow our audience and business ... NBCUniversal's valuable family of properties align especially well with Vox Media's authoritative, voice-driven brands which span sports, tech, news, fashion, food, and more. We are extraordinarily excited to collaborate in many areas including video programming, brand advertising, cross-promotion, and platform technology to grow existing properties and launch new franchises."