Vice Media Raises $450 Million
Online publisher Vice Media announced it has raised $450 million in financing from TPG Capital.
Originating from the Montreal-based VICE magazine, VICE expanded into youth and young adult-focused digital media, including online content verticals and related web series, the news division VICE News, a film production studio, and a record label, among other properties. In August, 2014, A&E Networks made a $250 million investment in Vice Media for an ownership stake of 10%. In November and December, 2015, Disney made two additional individual investments of $200 million, totaling $400 million.
According to the company, VICE plans to use the funding to launch VICE Studios, a vehicle for the company to create and distribute scripted multi-screen programming to complement its library of news and documentaries.
