NBCUniversal is reportedly investing $250 million in BuzzFeed at a $1.5 billion valuation, according to Re/code's Kara Swisher and Peter Kafka.

BuzzFeed declined to comment on the report.  

Most recently, BuzzFeed raised a $50 million Series E round last summer, led by Andreessen Horowitz's Chris Dixon. The Series E capital infusion valued BuzzFeed at $850 million at the time.

BuzzFeed made more than $100 million in revenue in 2014. 

In addition, NBCUniversal is reportedly investing in Vox Media at an $850 million valuation. 

Re/code reports NBCUniversal may be trying to invest in both media companies to "tap into Millennial audiences," cordcutters who may not be paying attention to NBC's TV content anymore.

Last week, The Wall Street Journal reported that NBCUniversal was in preliminary talks with BuzzFeed, among other media properties including Vice Media and Business Insider, to take equity in these companies or acquire them.

We're reached out to Vox for comment on this story. 

This story first appeared on Business Insider