Kara Swisher and Peter Kafka of Recode are reporting that Comcast subsidiary NBCUniversal plans to invest $250 million in BuzzFeed. According to the Swisher and Kafka, the deal “will value the booming digital publisher at around $1.5 billion.”

NBCUniversal is also reportedly planning to invest in Vox Media—home of The Verge, SBNation, Polygon, the eponymous Vox.com, and Recode itself. Per Kafka and Swisher, both investments are intended to shore up NBCUniversal’s reach among Millennials:

People familiar with the proposed deals say they’re part of a new effort from NBCU CEO Steve Burke to bet on digital outlets he thinks can tap into millennial audiences, who are tuning out of NBCU’s TV networks and most others. The idea is that NBCU can get a crash course on digital content and distribution from its new investments — and that those companies may want to distribute some of NBCU’s content as well.

If you know any more details about BuzzFeed’s (or Vox’s!) financials, do get in touch.

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