US company NBCUniversal is reportedly set to increase its investment in news and entertainment website BuzzFeed.
Comcast’s TV and movie arm is finalising a deal to put around $200m (£164m) into the company, giving it a total value of $1.7bn, Recode reports.
Read more: 560,000 reasons why BuzzFeed won in 2015
In the UK, BuzzFeed this week reported results showing it had quadrupled profits in 2015, making around £560,000. This was up from £140,000 in 2014.
The UK arm’s assets, meanwhile, have climbed to £7.99m – more than four times higher than in 2014.
Also this week, BuzzFeed announced it is doubling the size of its London office in order to house two new studios with a focus on sponsored video.
Earlier this year, it was reported that BuzzFeed had missed its revenue targets in 2015 and was forced to cut its 2016 targets from $500m to $250m.