NBCUniversal, part of Comcast Corp., said it made a $200 million equity investment in Vox Media, the online publisher of The Verge, Eater and Re/code.
The deal values Vox at $1 billion, according to a person with knowledge of the matter who wasn’t authorized to speak publicly and asked not to be named. NBCUniversal declined to comment on terms beyond those in a statement Wednesday.
“Vox Media has a great portfolio of premium digital brands that deeply engage broad audiences,” Steve Burke, chief executive officer of NBCUniversal, said in the statement. Philadelphia-based Comcast is the largest cable-TV provider in the U.S.
The deal is the latest in a series in which traditional entertainment companies have invested in online properties to capture the growth in digital advertising and hedge their bets in a rapidly changing media world.
NBCUniversal and Vox, based in Washington and New York, plan to collaborate on editorial content, advertising and technology, the companies said.
A+E Networks, a joint venture of Walt Disney Co. and Hearst Corp., paid $250 million for a 10 percent stake in news producer Vice Media Inc. last year, while Hearst alone invested in AwesomenessTV, an online network.