Comcast Now Owns a Quarter of Buzzfeed

With broadband growth slow and TV subscribers in steady decline, broadband providers continue to look to media and advertising for future growth. That's been clearly reflected in AT&T's $100 billion acquisition of Time Warner, and Verizon's ongoing collection of failed 90s internet brands like AOL and Yahoo. Not to be left in the cold, Comcast NBC Universal this week announced that it would be investing another $200 million in online media outlet Buzzfeed, in order to "expand the strategic partnership between the two companies and fund the growth of BuzzFeed’s industry leading news and entertainment network."

In a statement, Buzzfeed proclaimed that the investment from Comcast "allows us to remain a fully independent company but have access to and resources from the strongest and best media company there is."

With this latest $200 million investment, Comcast now owns roughly a quarter of the online news outlet. Comcast's original Buzzfeed investments came alongside a sizeable investment in Vox Media, which owns technology and culture website The Verge.

"Over the past year, BuzzFeed has proven to be a valuable partner across our business. From the Olympics to the record-breaking launch of Secret Life of Pets, BuzzFeed has helped us engage millennial audiences with our content and extend the reach of our clients’ campaigns to new platforms," said NBC Unversal. “We are looking forward to using the power of our brands to collaborate in more innovative ways that drive value for both companies."