Vice has confirmed its next big deal. The firm has sold another 10% stake for $250 million, this time to Technology Capital Ventures.
The move was flagged last week by re:code at the same time as Vice confirmed it had sold a 10% stake for the same amount to US cable company A&E, which is owned by Disney and Hearst. Yesterday Vice confirmed the TCV deal to the New York Times.
The two investments value the company at around $2.5bn and it is thought that the next move will be a Vice cable channel via the A&E network.
The NYT reports that Vice is on track to make US$500m in revenue this year, largely through its brand-funded videos and other advertising activities.
Vice began life twenty years ago in Quebec as a free magazine. Now it has global reach and a host of mainstream media companies throwing money at it.
Further reading: Vice set to sell another stake in bid for world domination.
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