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A Shift in the Media Landscape: NBC Invests in Buzzfeed

posted by takyon on Thursday August 20 2015, @12:42PM   Printer-friendly
from the social-media-bubble dept.

Phoenix666 writes:

[translation mine] The deal is official: NBC Universal has invested $200 million in the website "Buzzfeed." The roughly 180 million Euro is a stock transaction and should clear the way to a strategic partnership, according to the companies.

"Buzzfeed" and NBC Universal want among other things to cooperate on reporting for the 2016 Olympic Games. The broadcaster NBC holds the rights to coverage for the Olympics in the USA. To the media group also belongs a Hollywood studio, that recently produced box office hits like "Jurassic World" and "Minions." NBC Universal is itself owned by the American cable giant Comcast.
...
In the past weeks NBC Universal has also invested $200 million in the online media company Vox, to which the blog "Re/code" and the tech website "The Verge" belong. The deal awarded Vox shares valued at $1.1 billion.

Traditional media companies have merged with online media before, such as the Time-Warner/AOL deal and News Corporation's acquisition of MySpace. Can it work this time, or are the cultures of the two realms fundamentally incompatible?

Reuters.

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  • (Score: 0) by Anonymous Coward on Thursday August 20 2015, @03:03PM

    by Anonymous Coward on Thursday August 20 2015, @03:03PM (#225425)

    On the risk of having to hand in my geek card:

    WTF is BuzzFeed?

    You could at least have included a Wikipedia link.

  • (Score: 5, Informative) by WizardFusion on Thursday August 20 2015, @03:11PM

    by WizardFusion (498) on Thursday August 20 2015, @03:11PM (#225428) Journal

    From what little I know, it takes days old (sometimes hours old) stories from Reddit and posts them as "News"
    That's about the extent of my knowledge on them and their functionality as a web service.

  • (Score: 3, Informative) by dyingtolive on Thursday August 20 2015, @05:36PM

    by dyingtolive (952) on Thursday August 20 2015, @05:36PM (#225505)

    If it's the one I'm thinking of, it's a clickbait site that operates in a format similar to Cracked (which is almost as bad) except it's less content and more gifs.

    That is, vapid top 10 lists and topics an inch deep and mile wide that no thinking person cares about to begin with.

    This is a 'nothing of value lost' moment.

    --
    Don't blame me, I voted for moose wang!

  • (Score: 0) by Anonymous Coward on Thursday August 20 2015, @07:24PM

    by Anonymous Coward on Thursday August 20 2015, @07:24PM (#225536)

    I didn't know, either, but I just took a quick look at buzzfeed.com. Imagine a tabloid [wikipedia.org], but on the WWW.