Despite the previously unreported sale late last year, NBCU says it's committed to the Snap relationship, and is producing more programming than ever for the platform.
With the entertainment giants pouring billions of dollars into new streaming services while also balancing debt obligations, they are taking a hard look at their portfolios to find pieces that may not fit with their new strategies.
Among the recent divestitures: NBCUniversal quietly sold off its entire equity stake in Snap Inc. last year, The Hollywood Reporter found in Comcast's Jan. 31 10-K filing with government regulators.
Three years ago this month, as Snap Inc. went public, NBCUniversal announced that it had invested $500 million in the company. Steve Burke wrote a note to staff at the time, highlighting the Snap investment and similar investments in BuzzFeed and Vox Media, writing that “we have become a better, more digitally-focused company as a result.”
