Walt Disney Co. is doubling its investment in Vice Media, investing another $200 million according to the Financial Times, quoting “people familiar with the matter”.
Vice Media is a youth media company specialising in creating, distributing, and monetising original content globally. It was started in 1994 by Shane Smith, Gavin McInnes and Suroosh Alvi as a punk magazine titled Voice of Montreal.
Disney invested $200 million last month, when Vice announced a deal to launch the round-the-clock Viceland channel.
The $400 million invested by Disney gives it a roughly 9% stake of Vice at a valuation of between $4 billion and $4.5 billion. This is on top of the stake Disney holds through the joint venture with Hearst in A+E Networks, which now holds more than 15% of Vice.
21st Century Fox Inc. invested $70 million in Vice in August 2013.
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