NBCUniversal News Group confirmed its investment in Revere Digital, the tech media company started by journalists Kara Swisher and Walt Mossberg, who ended their partnership with Dow Jones & Co. for the now-defunct AllThingsDigital last month.
Terry Semel’s Windsor Media also is investing in Revere Digital. Semel is the former CEO of Yahoo and previously co-CEO and chairman of Warner Bros. The amounts of the investments were not disclosed.
On Wednesday, Swisher and Mossberg launched a new site called Re/code (at recode.net). NBCU said it will incorporate Revere Digital’s content across multiple media platforms.
Revere Digital has already planned out the lineup for its first big conference, the Code Conference, set to run May 27–29, 2014, in Rancho Palos Verdes, Calif. Brian Roberts, chairman and CEO of Comcast — which owns NBCUniversal — is among skedded speakers, along with Google co-founder Sergey Brin and Intel topper Brian Krzanich.
“Kara and Walt are two of the most knowledgeable, well-connected and respected technology journalists working today. They built an incredible brand and business with ‘AllThingsD,’ and we are very excited about partnering with them in this new venture and deepening our engagement in this rapidly changing technology market,” Patricia Fili-Krushel, chairman of the NBCUniversal News Group.
NBCU’s investment in the new venture was previously reported by Bloomberg. In September, News Corp.’s Dow Jones and the AllThingsD founders said they would part ways by the end of 2013. The allthingsd.com website is now being directed to WSJD, a rebranded and redesigned home for the Wall Street Journal’s tech coverage and blogs.
Under the pact, Swisher, Mossberg and other members of the Re/code editorial staff will appear on-air across all of the NBCU News Group properties including CNBC, MSNBC, the “Today” show and “Nightly News with Brian Williams.” Re/code content also will be distributed simultaneously to the media conglom’s TV and digital properties.
In addition, CNBC will become the official media partner for Revere’s conferences. Revere Digital and NBCU also will collaborate on ad sales.
As part of Dow Jones, AllThingsD generated about $14 million in annual revenue and earned about $5.5 million in profit, Bloomberg reported, citing anonymous sources.
The AllThingsD principals valued their operation at between $25 million and $35 million when they approached investors in September, Bloomberg reported. A source familiar with the venture said that reported valuation range was high, based on what NBCU is investing in the startup.