Yet, another deal that could have never been done without Fed chair Janet Yellen printing billions of new dollars.
Vice Media has secured a $450 million investment from the private equity group, TPG.
The deal puts a valuation on the youth-oriented news outfit of $5.7 billion.
According to the Financial Times, Vice is valued at almost $2bn more than Tribune Media fetched when the owner of 42 US television stations was sold recently to Sinclair Broadcast. It is more than double the market value of the New York Times, four times what the Financial Times cost Nikkei when the Japanese company acquired it two years ago and more than 22 times what Jeff Bezos, the Amazon founder, paid for the Washington Post in 2013.
Vice is privately owned and does not reveal its financial performance. But co-founder Shane Smith said two years ago that revenues had hit $1billion, although it later emerged that this figure included bookings, with the real recognized revenue being closer to just $500 million.
Some headlines on today's Vice front page:
I Found Out I Was HIV Positive at a Gay Bar
----
A Party Has to Be More Than Gay to Qualify as "Queer"
----
Activists Are Trying to Drive a Hipster Coffee Shop Out of East LA
---
10 Questions You Always Wanted To Ask: Tantric Sex Guru
----
Racist Instagram Photos Tore a California High School Apart
- RW
They produce some good stuff as well. There's that Indian or Pakistani guy or whoever who goes all over the world into interesting places. But most of their headlines are crappy, agreed.
ReplyDelete