U.S. firm A+E Networks is close to finalizing a deal to buy 10% of Vice Media for US$250 million, a Vice spokesperson has confirmed to realscreen.
The deal, negotiated by A+E Networks president Nancy Dubuc, will see the Brooklyn-based digital media, TV and publishing company produce digital and cable programming for the U.S. cable giant, and values Vice at around $2.5 billion.
Talking to London’s Financial Times, which first reported the news, Vice CEO Shane Smith said that the acquisition is “a great deal for us.” He told the newspaper: “It means we can preserve our independence and it gives us a war chest for another three years of dramatic growth.”
A spokesperson for A+E could not be reached for comment at press time.
The news comes after The New York Times reported earlier today (August 29) that talks between Vice and Time Warner, for the latter firm to acquire a minority stake in the youth-skewing media company, had broken down. The newspaper stated that the two parties had not been able to agree on a valuation.
The deal also comes almost exactly a year after 21st Century Fox paid $70 million for a 5% stake in Vice, in a transaction which, at the time, valued Vice at around $1.4 billion.