This post originally appeared at Smart Content News.
That $45 billion Comcast did not get to spend on Time Warner Cable seems to be burning a hole in its pocket.
On Monday, Comcast announced it would invest $200 million in BuzzFeed at a valuation of $1.5 billion, giving the old-line cable MSO entree to BuzzFeed’s more than 200 million unique monthly visitors, including 82.4 million in the increasingly elusive 18-34 age group.
“BuzzFeed has built an exceptional global company that harmonizes technology, data and superior editorial abilities to create and share content in innovative ways,” NBCUniversal CEO Steve Burke said in a statement. “They reach a massive, loyal audience and have proven to be among the most creative, popular and influential new media players. We are pleased to be making this investment and for our companies to partner and work together.”
The BuzzFeed deal comes one week after Comcast unveiled a similar $200 million investment in Vox Media, valuing the parent of SB Nation, The Verge and Vox.com at roughly $1 billion.
Comcast is also reportedly planning to launch a new digital video service called Watchable that will focus on original, unlicensed content and made available to Comcast subscribers with an X1 set-top box. Read More »