ViceMedia has sold a $70 million stake to 21st Century Fox, marking the latter’s first major deal announcement since splitting off from News Corp. in June. The deal gives Fox a 5% stake in Vice and values the company at $1.4 billion, according to a report Friday in the Financial Times.
“We get to make all the content we want? With the best platforms in the world? Grow our brand exponentially? Become the next global media brand? And all the while own the vast majority of the company and vote 95% of the board? Where-do-we-fucking-sign?!” Vice founder and CEO Shane Smith said in a statement. Reps for 21st Century Fox could not be reached.
Known for its gonzo journalistic tactics – like bringing basketball star Dennis Rodman to North Korea earlier this year — Vice has
grown from a Canadian music mag into an online news site fueled by videos from hotspots around the globe. Fox joins other minority shareholders including Raine, the merchant bank connected with WME, global marketing firm WPP and former Viacom honcho Tom Freston. In June, News Corp. spun off its entertainment assets — including its film and television studios — into the separate and publicly traded 21st Century Fox. News Corp. now holds the company’s publishing assets, including the New York Post and the Wall Street Journal.
Popular on Variety
Michael B. Jordan and Lupita Nyong'o Can't Say 'No' in This 'Black Panther' Q&A
'The Sopranos' Cast Remembers James Gandolfini: 'A Gem of a Human'
Lindsay Lohan Reveals Her Advice to Young Women, Obsession With 'Vanderpump Rules'
Hollywood Answers: Who Should Host the 2019 Oscars?
Celebrities Who Died in 2018
Sandra Bullock Moms Who See 'Bird Box' Will Think: 'That River Is My Journey as a Parent'
Adam McKay Explains How Christian Bale's Method Acting Helped Him Survive a Heart Attack
Can 'Aquaman' Stars 'Name That Fish'?
How Well Do the 'Mary Poppins Returns' Stars Know the Original Movie?
The Washington Post was forced to issue a statement on Wednesday morning after commuters were handed fake print copies of the newspaper with a headline claiming President Donald Trump had fled the White House. “There are fake print editions of The Washington Post being distributed around downtown DC, and we are aware of a website [...]
Corporate giants on the S&P 500 have spent more than $720 billion during the past year on stock buybacks. Media and entertainment firms account for only a fraction of that spending, but even $1 million spent on share repurchases seems a foolhardy expenditure at this transformational moment for the industry. The record level of spending [...]
Sinclair Broadcast Group is diving into the increasingly crowded streaming platform arena with the launch today of Stirr, a free OTT entertainment bundle offering local news and general entertainment, sports and lifestyle channels. Sinclair aims to leverage the near-national reach of its sprawling station group with its strong local presence in markets across the country [...]
The Tokyo International Film Festival and its accompanying rights market, TIFFCOM, will be held on separate dates this year. Some film executives may have to choose to attend one or the other. The film festival Wednesday announced that it will be held from Monday, Oct 28 to Tues, Nov. 5. Previously, the TIFFCOM market said [...]
UPDATED: News that Travis Scott would be performing with Maroon 5 at the Super Bowl first leaked out in December, but three weeks passed before the performance was officially announced. That announcement only came after Scott announced that he and the NFL would donate $500,000 to the non-profit social-justice organization Dream Corps. The move was [...]
Jeremy Vuernick has been promoted to Executive Vice President of A&R for Capitol Music Group, it was announced today by CMG COO Michelle Jubelirer and president Ashley Newton. In his elevated position, Vuernick will draw upon his broad experience as an A&R executive to sign and develop artists for the company, as well as oversee recording projects for new and [...]
Darnell Strom has joined UTA and is set to lead its newly created Culture and Leadership division. Strom will represent and work with existing and new UTA clients who want to expand their diverse businesses and cultural influence at the intersection of entertainment, media, entrepreneurship, politics, the arts, and thought leadership. Strom brings years of [...]