August 12, 2015
NBCUniversal, owned by Philadelphia-based Comcast Corp., has invested $200 million in digital media company Vox, whose extensive portfolio of websites will be leveraged to gain access to millennial audiences through digital advertising.
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Founded in 2003, Vox's brands include SBNation, Polygon, The Verge, Vox.com, Eater, Racked, Curbed, and Re/code. The deal will enhance a pre-existing digital advertising partnership after Vox previously raised $100 million from Comcast Ventures, The Philadelphia Business Journal reports.
“Vox Media has a great portfolio of premium digital brands that deeply engage broad audiences,” said Steve Burke, CEO of NBCUniversal. “Vox Media has strong leadership, top editorial talent and a unique technology platform."
NBCUniversal did not disclose the amount of equity it will receive in exchange for its investment.
As part of the investment package, the companies will also collaborate on video advertising, brand advertising, cross-promotion and platform technology.