After more than 40 years of operation, DTVE is closing its doors and our website will no longer be updated daily. Thank you for all of your support.
Disney pays US$200m to up Vice stake
The Walt Disney Company has reportedly paid another US$200 million for a further 5% stake in youth entertainment company Vice Media.
Various news sites are quoting sources familiar with the deal, which would bring Disney’s total stake in the firm to 10% and value Vice at US$4 billion.
A+E Networks, which Disney jointly owns with Hearst Corporation, paid $250 million for a 10% stake in Vice in September last year, which effectively gave Disney 5% of the firm.
The news comes as Vice prepares to launch its US cable channel, Viceland, with A+E, and ahead of plans to launch in 12 European territories next year. Vice is also launching a daily newscast on premium cable net HBO.
Other investors in Vice include 21st Century Fox, which bought a 5% stake two years ago; technology venture capital fund Crossover Ventures, which invested US$250 million at the same time as A+E; and advertising company WPP.