A&E Networks purchase stake in Vice Media
A&E Networks will pay $250 million for a 10 percent stake in Vice Media, a deal that values the company at 2.5 billion, Paul Bond wrote in The Hollywood Reporter Friday.
Earlier in the day, Time Warner dropped its bid to purchase a stake in Vice Media, a deal reportedly fell through because the two companies could not agree how much Vice Media was worth, Jonathan Mahler wrote for The New York Times. He wrote one possible outcome for the deal might have included giving Vice control of HLN, a network owned by Time Warner that has seen flagging ratings recently.
Vice chief executive Shane Smith told Financial Times that the investment from A&E was "a great deal," adding that it will enable the company to grow for another three years. Smith is "exploring channel possibilities" with A&E, according to Financial Times.