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Disney Doubles Ownership Stake In Vice to 10%

Walt Disney Co. has raised its ownership stake in Vice Media to about 10%, or about $400 million, according to a person familiar with the situation.

The Financial Times previously reported news of the transaction.

Walt Disney could not be reached for immediate comment.

The infusion of Disney dollars comes just weeks after the company invested $200 million in the edgy upstart media company. Vice is gearing up for two big launches in 2016: a new cable network run under the auspices of A+E Networks, which Disney co-owns with Hearst Corp., and a five-day-a-week newscast slated to debut on Time Warner’s HBO.

Vice, known for crafting video-news reports with a guerrilla sensibility and “you are there” aplomb, has captured the attention of may of the nation’s biggest media companies. Rupert Murodch’s 21st Century Fox and Sir Martin Sorrell’s WPP advertising holding company also hold minority stakes.

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