NBCUniversal in talks to invest up to $250 million in Buzzfeed News
Video editing inside the newsroom of the Los Angeles headquarters of the website Buzzfeed.com.
NBCUniversal is in talks to invest as much as $250 million in Buzzfeed News as part of the traditional media giant’s efforts to appeal to millennials who get much of their news online – rather than from watching a talking head on TV.
Negotiations are in advanced stages but no deal has been reached, according to a person familiar with the talks who was not authorized to discuss them publicly.
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NBCUniversal would take a minority stake in Buzzfeed, which has been a leader in publishing provocative stories that quickly gain big traction on the Internet, such as whether a lacy dress is the color blue or the color gold, or a story this week on its website that carries the headline: “11 Things I learned being Queer in a ‘Straight’ Relationship.” The company has also invested in foreign reporting and investigative journalism.
Traditional news organizations are trying to crack the code on how to best curate and post stories that are easily shared among users on social media sites like Facebook and Twitter. Shareable content increasingly is the holy grail as advertisers move more of their advertising dollars to sites like Buzzfeed.
The potential investment comes as NBCUniversal’s most buzzed-about shows, such as its morning juggernaut “Today” and its programs on its cable channels E! and Bravo, increasingly attract viewers in their 30s, 40s and even older.
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NBCUniversal and BuzzFeed declined to comment on the story, which was first reported by the technology news site Re/Code. NBCUniversal is a part-owner of Re/Code, which was purchased earlier this year by Vox Media. NBCUniversal separately is considering increasing its 14% stake in Vox, which NBCUniversal acquired as part of Vox’s purchase of Re/Code, the knowledgeable person said.
Vox did not respond to a request for comment.
NBCUniversal is owned by Comcast Corp.
Twitter: @MegJamesLAT
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