BuzzFeed enters TV and film with the NBCUniversal deal

By MoneyTimes

Aug 19, 2015 09:27 PM EDT

Online publication BuzzFeed announced on Tuesday that NBCUniversal agreed to invest $200M for the website to expand on movies and TV.

BuzzFeed also partnered with Yahoo!, SnapChat, Facebook and Apple for content distribution.

In a news from Vator TV, NBC Universal Incorporated, the company that owns, Comcast, Bravo, Telemundo and E! had closed a $200M equity investment on BuzzFeed; an online publishing company with an access to 200M unique visitors and 1.5B video views per month.

"I'm very excited to share that NBCUniversal has agreed to invest $200M in BuzzFeed and partner with us to extend our reach to TV and film," BuzzFeed CEO Jonah Peretti wrote in a letter to his employees.

Both companies will explore strategies for film, television, Internet, advertising and brands. Peretti said this is the most encouraging time for broadcast media to collaborate with digital, mobile and social platforms. The partnership will combine their strengths to set the trend in news and entertainment, expanding and connecting to the global crowd.

"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 from BuzzFeed blog.

"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," Burke added.

BuzzFeed also teamed up with Yahoo! Japan to introduce the online website in the Asian country. The online news company will also work together with Snapchat's Discover, Facebook's Instant Articles and Apple News app.

The CEO brought up that the deal guarantees BuzzFeed's independence to remain on its creative and editorial tasks while allowing them to deliver the best service in TV and movies.

In a report by USA Today, NBCUniversal had a quick deal with Vox Media, the online media company in charge of The Verge and SB Nation.

At this time when people are spending more time on their handheld devices and streaming media more than their television set at home, TV networks are widening their perspective on venturing in the new media. Likewise, the digital media continue to sweat producing social media friendly and viral contents to rule the netizens.

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