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Vice secures new investment

By | Published on Friday 5 September 2014


Vice Media has secured another $500 million in finance, selling minority stakes in the youth media business to tech firm Technology Crossover Ventures and broadcaster A+E Networks. Vice says the new monies will help fund “thousands of hours” of new video content to be distributed via the company’s various channels.

As with past cash-injections from big business into the Vice enterprise, not least the 21st Century Fox deal last year, management were keen to stress that the company remains independent from its shareholders, still led by co-founder and CEO Shane Smith.

Of the new finance, which values Vice Media at $2.5 billion, Smith said: “We believe that these new partnerships position us at the forefront of the coming convergence of media and technology, while preserving and protecting our independence. High-quality content and innovative tech platforms will drive Vice through this next period of growth on our relentless quest for total media domination”.