Comcast Corporation's NBCUniversal, one of the world's leading media and entertainment companies, has just announced a $200 million equity investment in Vox Media, according to a press release issued by NBCUniversal.
The investment is a way for NBCUniversal to better connect with younger audiences.
The Wall Street Journal adds that the TV giant has struggled with the declining viewership from younger audiences.
The younger generations prefer more to watch videos online and are dropping their cable connections.
The Wall Street Journal added that the investment in Vox Media, which has gained a strong traction among younger teenagers, will help NBCUniversal in that regard.
Vox Media has eight websites that focus on various topics such as sports, politics, food, fashion and technology.
Steve Burke, CEO of NBCUniversal, said in the press release that they are excited to be making the "investment and building a collaborative partnership."
"Vox Media has a great portfolio of premium digital brands that deeply engage broad audiences," he said. "Vox Media has strong leadership, top editorial talent and a unique technology platform."
The Wall Street Journal added that the Vox Media investment is just the latest in NBCUniversal's efforts to connect to younger audiences.
Late last month, the company was close to making a $250 million minority investment to BuzzFeed, a site that also has a strong viewership from younger audiences, people familiar with the matter told The Wall Street Journal.
Vox Media, one of the world's largest and fastest growing digital media companies has eight brands.
The eight brands are SB Nation, Polygon, The Verge, Vox.com, Eater, Racked, Curbed, and Re/code, according to the press release.
Jim Bankoff, chairman and CEO of Vox Media, said that NBCUniversal's investment will allow them to "grow existing properties and launch new franchises."
"NBCUniversal's valuable family of properties aligns especially well with Vox Media's authoritative, voice-driven brands which span sports, tech, news, fashion, food, and more," he said in the press release.
