June 19 Vice Media said on Monday it had closed
a $450 million investment from private equity firm TPG, as the
millennial-focused media company seeks to offer more programming
content as well as expand into new markets.
TPG's investment values New York City-based Vice at about
$5.7 billion, a source familiar with the matter said.
Vice, home to channels such as Viceland and Motherboard,
said it would use the funding to launch "Vice Studios," a
platform that will offer scripted programming.
It will also use the funds to develop over-the-top and
Vice, which started in 1994 as a Montreal punk magazine, has
evolved into a multimedia company offering print, television and
online content as well as a record label and book publishing.
Walt Disney Co, which owns an 18 percent stake in
Vice, did not participate in the funding, the Wall Street
Journal reported, citing people familiar with the matter. on.wsj.com/2siO8OQ
TPG also has investments in music streaming service Spotify
AB and home-sharing company Airbnb.
(Reporting by Pushkala A and Anya George Tharakan in Bengaluru;
Editing by Sai Sachin Ravikumar)