Vice Media has finalized its US$250 million deal with A+E Networks, and has penned a deal to sell a minority stake to Technology Crossover Ventures (TCV), which will bring the youth-skewing brand another $250 million.
The two deals value Vice at more than $2.5 billion, the company said in a statement. As previously reported, A+E’s acquisition will give it 10% of Vice.
Meanwhile, Vice said that TCV’s investment will be used “to develop a world-class slate of digital products and distribution capabilities, giving audiences new ways to experience Vice content across all devices, screens, social networks and digital platforms.”
In a statement, A+E Networks president and CEO Nancy Dubuc said: “As a global media company, A+E Networks continually seeks to create new and exciting content that will attract audiences today, tomorrow and beyond.
“By investing in Vice, we are thrilled about our potential to further deliver content that meets the demands of the latest consumption trends.”
Vice founder and CEO Shane Smith added: “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.”