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Time Warner negotiating $2 bn deal with Vice Media
MUMBAI: After spinning off Time Inc from itself, Time Warner is planning to acquire a stake in Vice Media. As per reports, the company is presently negotiating a $2 billion deal with Vice.
The deal might include providing Vice with Time Warner’s cable television network HLN.
One block in taking the deal forward is whether Time Warner will be able to buy out a five per cent stake in Vice from 21st Century Fox, which bought it in 2013 for $70 million. The deal valued Vice at $1.4 billion.
Created in 1994, Vice Media has grown from a magazine to a multi-platform media network with a reputation for stirring up controversy, and reporting in some of the world’s most dangerous areas.
Vice, whose video content appeals to a more youthful audience than most news outlets, already makes a documentary show for Time Warner’s HBO network. It previously explored acquiring a cable network, and making a move towards a more traditional television presence, but those deals failed to go through.
Vice operates some of YouTube’s most popular channels and has content partnerships with a broad range of digital media providers, including Facebook and Twitter. Its digital channels now include The Creators’ Project, Motherboard and a music discovery platform called Noisey.