Media and entertainment group NBCUniversal has moved to expand its new media interests after reportedly investing $200m apiece in Vox Media and BuzzFeed.
The deal values Vox Media at $1bn and BuzzFeed at $1.5bn and opens up new commercial partnerships between the organisations; with synergies being sought in digital advertising, video advertising and video programming.
Reflecting the growing importance of digital operations the move is being seen as a belated attempt by NBCUniversal to gain a foothold in the fast growing sector, potentially with a view to acquiring one or both firms at a later date.
Despite these shifts digital revenues are still dwarfed by television which remains the king of advertising.
A formal announcement of the NBCUniversal and BuzzFeed deal is expected later this week.
Update: BuzzFeed confirmed on 18 August that NBC has agreed to make a $200m equity investment in the digital media company. On 17 August, BuzzFeed announced that it is partnering with Yahoo Japan to launch a Japanese-langauge version of the site.