NBCUniversal making $200 million investment in BuzzFeed in move to reach millennial audience

NBCUniversal will make a $200 million investment in media company BuzzFeed as part of a move to reach a wider audience of millennial and mobile video viewers.

In a statement, NBCUniversal said the news and entertainment site reaches over 200 million monthly unique visitors and has 1.5 billion monthly video views.

The companies will also explore strategic partnerships across both organizations in the coming months.

NBCUniversal is a unit of cable giant Comcast Corp.