Cable and internet service provider Comcast has entered into talks to acquire online media group Vox Media, Quartz reported yesterday citing several people close to the talks.
The acquisition would provide an exit to Comcast’s corporate venturing unit, Comcast Ventures, which is an investor in Vox. Initial talks faltered in April this year over the $1bn valuation Vox was seeking, but the companies have recently reopened negotiations.
Founded in 2004, Vox oversees an extensive network of online media properties including technology news site The Verge, online gaming publication Polygon and sports content network SB Nation.
The company’s next acquisition will be technology business site Re/Code, which it agreed to buy in an all-share deal earlier this week. NBCUniversal, which is owned by Comcast, was also an investor in Re/Code’s parent company, Revere Digital.
Vox has raised about $125m since it was founded, reportedly raising $46.5m in series E funding from investment firm General Atlantic in December 2014 at a $380m valuation.
Comcast initially led Vox’s $8m series B round in 2009 through Comcast Interactive Capital, the forerunner of Comcast Ventures, investing alongside Accel Partners, Allen & Co and Ted Leonsis. It returned for a $10.5m round led by Khosla Ventures the following year.