Comcast expands its interest in new media
According to reports, there are doubts regarding NBCUniversal plans to acquire BuzzFeed, which is among some popular names in new media, and increase its stake in Vox Media that owns familiar online brands like SB Nation and Verge.
As per reports, in the beginning, the plans were reported by Re/code, a Vox property. According to the Wall Street Journal and the New York Times, NBCUniversal was ready to invest $250 million in BuzzFeed in addition to raising its 14% ownership stake in Vox. The amount which it wants to invest is nearly a one-sixth stake at a valuation of $1.5 billion.
As per industry analyst Jeff Kagan, Comcast's interest in new media was probably increased after blockage of its proposed $45 billion purchase of Time Warner Cable by federal regulators.
According to the cable and broadband provider, a lot of cash is generated by Comcast. Kagan said that there is a reason behind expanding more in its core businesses.
According to him, "The stand-alone cable industry won't exist in the next five or 10 years as it has in the past. These are the companies we're going to be hearing about over the next decade. The question is, how do you find the few that will make it?"
Acording to Joseph Turow, a media and advertising scholar at the University of Pennsylvania's Annenberg School for Communication, BuzzFeed that has appointed journalists and developed overseas, has exceeded its extensively copied "listicles", like "19 Tricks Cats Use to Train Their Humans".
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