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.

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