NBCUniversal, one of the country's largest multimedia corporations, is planning to invest $250 million in BuzzFeed, the New York Times reports. The deal values the online media company at $1.5 billion.
Although investment plans have yet to be confirmed by both corporations, talks between both parties are said to be ongoing. NBCUniversal is also said to have investment plans for Vox, another digital media company.
Both investments are seen by analysts as an attempt by big-media to engage younger audiences that are at the forefront of declining television network viewership.
NBCUniversal, Walt Disney Co. and 21st Century Fox officials are vocalizing their opposition to Verizon's newest FiOS television service, which provides lower-priced and customizable packages for customers.
The company's "channel packs," which are separated according to viewership age and interest, have been subject to criticism by Verizon's industry rivals.
"We reject Verizon's view that it can pursue the new packaging scheme it announced yet still comply with our agreements," Fox officials said in a statement, according to the Los Angeles Times.
"Verizon's announced 'Custom TV' package does not comply with our existing agreement," NBCUniversal officials added.
Given that cable programming fees account for most of the revenue coming in for media giants like NBCUniversal, Walt Disney Co. and Fox, Verizon's FiOS television service will likely continue to encounter resistance.
