Nov 21 Online media company BuzzFeed, best known
for its list-based articles and quizzes, said Comcast Corp's
NBCUniversal had invested an additional $200 million
in the company.
NBCUniversal last year invested roughly the same amount in
NBCUniversal parent Comcast has pumped heavily into
digital-native companies such as BuzzFeed and Vox Media, partly
in an effort to better service existing advertisers.
BuzzFeed, whose content generates 7 billion views each
month, will collaborate with NBCUniversal on production and
social distribution for NBCUniversal's Content Studio, the
companies said on Monday. (bit.ly/2fiwJMv)
In August, BuzzFeed split itself into news and entertainment
divisions amid media companies' struggle for balance between
covering news and politics, and lighter fare like social media,
entertainment and lifestyle.
LionTree Advisors was BuzzFeed's financial adviser and
Fenwick & West LLP its legal adviser. Davis Polk & Wardwell LLP
was NBCUniversal's legal adviser.
(Reporting by Rishika Sadam in Bengaluru; Editing by Maju