Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
A year after making a major investment in BuzzFeed, NBCUniversal is doing it again.
Sources say Comcast's TV and movie arm is finalizing a deal that will put around $200 million into the digital publisher, at a valuation of around $1.7 billion.
Those are roughly the same numbers NBCUniversal used last year, when it first invested in BuzzFeed — except that deal gave BuzzFeed a post-money valuation of $1.5 billion.
NBCUniversal made the first BuzzFeed deal at the same time it also invested $200 million into Vox Media, which owns this site.
More from Recode:
Lyft has hired two new key executives as it continues to lag behind Uber
Macs are cheaper for businesses, and even IBM says so
Sequoia Capital has hired Polyvore's Jess Lee as its first woman investment partner
Since those deals, some — but not all — investors have become more wary about betting on digital media companies. BuzzFeed missed its 2015 revenue goals, but BuzzFeed chairman Ken Lerer denied a report the company had knocked its 2016 goals down by half.
BuzzFeed rep Carole Robinson declined to comment on the deal but said, "We have a great relationship with NBCU. We're always talking about broadening the relationship. as part of our plan to grow as independent company." NBCU execs declined to comment.
People familiar with the company attributed BuzzFeed's 2015 miss to its shift to a "distributed" media strategy, where the goal is to find large audiences beyond its own web sites and apps. They say the publisher was attracting lots of eyeballs on platforms like Facebook and Snapchat, but that advertising dollars hadn't followed.
Since then, BuzzFeed has made progress making money beyond its own properties. In large part that's because of Tasty, the Facebook video brand dedicated to food, along with other branded video projects, sources say.
Earlier this year BuzzFeed split its editorial operations into an entertainment group and a news group, and said it would put increasing resources into video. The New York Times reported that video would generate half of BuzzFeed's revenue this year, and that the company thinks that number will hit 75 percent in the next two years.
The $400 million NBCUniversal has put into BuzzFeed means it has become one of Big Media's biggest digital bets. For now, the only thing in its weight class is Disney's wager on Vice Media: Disney has put $400 million directly into the millennial+video-focused company, and owns more of Vice through its investment in A&E, which has also backed the company.
This year Disney has discussed a full acquisition of Vice, a potential move that has occupied a lot of headspace in medialand.
—By Peter Kafka, Recode.net.
Disclosures: Comcast is the owner of NBCUniversal, the parent company of CNBC and CNBC.com. NBCUniversal is an investor in Recode's parent Vox, and the companies have a content-sharing arrangement. NBCUniversal is a minority investor in BuzzFeed. CNBC's sister company Universal Studios competes with Disney.