21st Century Fox has bought a 5 per cent stake in Vice Media, the digital media company that evolved from Vice magazine, in a deal which values it at $1.4 billion (£895 million).
The media corporation, which includes the film studio 20th Century Fox and Fox News, paid $70 million (£44.8 million) for the stake.
Shane Smith, Vice’s founder and chief executive, said the deal will help Vice become the “next global media brand” as he plans to take on major video networks like CNN and MTV.
Read the full story at 21st Century Fox pays $70m for 5% stake in Vice – Brand Republic News.
