You will be redirected back to your article in seconds

Vice in Talks With TPG on $500 Million Investment (Report)

Private-equity firm TPG Capital has joined the bidding for a 10% stake in Vice Media for $500 million, Sky News reported, citing anonymous sources.

Such a deal would give Brooklyn-based Vice a valuation of $5.25 billion. Others circling an investment in the youth-skewing news and entertainment company include CVC Capital Partners, according to the Sky News report.

A Vice rep declined to comment.

Vice has been in talks over the past several weeks with several parties to raise funding for a new push into scripted programming. In addition, the company is in the midst of expanding its operations to some 80 countries this year, and is pouring more money into its daily news show for HBO and its Viceland cable network.

Other Vice investors include 21st Century Fox, ad giant WPP, Raine Group, Tom Freston, MTV founder and former Viacom CEO, and Disney — which doubled its ownership stake in Vice to about 10% in 2015 with a $400 million investment.

Vice CEO Shane Smith, speaking last December at Variety’s annual Dealmakers conference, said the company was laying the groundwork for an initial public offering potentially in 2017 although no final decision has been made on the timing of an IPO. The new investment that the company is in discussions about would be a “pre-IPO” round leading to a potential public offering next year, Sky News reported.

More Biz

  • Here’s How Much Money 10 Artists

    Here’s How Much Money 10 Artists Are Owed by PledgeMusic

    For eight years, PledgeMusic was a success story: A direct-to-fan platform where artists worked directly with their audiences to fund their albums, tours and all stripes of merchandise, with fans able to purchase everything from custom guitar picks to private concerts. Yet last June, Variety broke the news that the company is struggling to pay [...]

  • Korea's CJ CGV Switches Turkey CEOs

    Korea's CJ CGV Switches Turkey CEOs as It Battles With Local Industry

    Yeun Seung-ro has been appointed as CEO of CGV Mars Entertainment, the Korean-owned company that operates Turkey’s largest cinema chain. He replaces Kwak Dong Won, another veteran of the CJ-CGV group. The change of personnel may reflect two ongoing battles within the Turkish film industry. CJ-CGV, which bought Mars for some $650 million in 2016. [...]

  • China Video Streaming Giant iQIYI Loses

    Chinese Video Giant iQIYI Loses $1.3 Billion in 2018

    Chinese video streaming firm iQIYI lost over $1.3 billion in 2018, as revenues and subscriber numbers ballooned. The deepening losses reflected ever higher spending on original content production. Announcing its first full-year financials since a March IPO that launched it onto the NASDAQ, iQIYI said that it lost $1.3 billion (RMB9.1 billion) last compared with [...]

  • Lisa Borders Time's Up

    Time's Up CEO Resigned After Son Was Accused of Sexual Assault

    Time’s Up has announced in a statement posted to Instagram that its former president and CEO Lisa Borders, who resigned Feb. 18, did so after her son was accused of sexual assault in a “private forum.” “Within 24 hours, Lisa made the decision to resign as President and CEO of Time’s Up and we agreed [...]

  • Louis Tomlinson Signs With Arista (EXCLUSIVE)

    Louis Tomlinson Signs With Arista (EXCLUSIVE)

    One Direction’s Louis Tomlinson has signed with Arista, sources tell Variety. While the singer was formerly linked with Epic Records in 2017, he is signed directly to Simon Cowell’s Syco label and will move within the Sony Music family to Arista. Tomlinson teased a new single on Feb. 2, posting on Twitter, “Just heard the [...]

  • Jussie Smollett

    Jussie Smollett's Bail Set at $100,000, Must Surrender Passport

    UPDATED: A Chicago judge set a $100,000 bond for Jussie Smollett on Thursday, as the “Empire” actor made his first court appearance. Smollett faces one felony count of filing a false police report. Police allege that Smollett staged a Jan. 29 attack, telling detectives that he was accosted by two men who used racial and [...]

More From Our Brands

Access exclusive content