It’s getting hard to keep track of the companies that own a piece of Vice Media — and that are interested in buying a 10% stake to help fund its expansion plans.
Investment firm TPG is now “among the frontrunners” to buy the stake for $500 million, Sky News reports. If correct, then it suggests the millennial-oriented entertainment and news company is worth nearly $5.3 billion –or about 90% more than the market value for The New York Times.
Last month Sky reported that London-based CVC Capital Partners was interested in the Vice stake.
Vice declined to comment.
The company is looking for cash to develop scripted programming, expand overseas, and develop a direct-to-consumer service. It currently has cable’s Viceland (a joint venture with A+E Networks) and HBO’s Vice News Tonight as well as a variety of music, film, book and magazine initiatives.
Viceland Sets Summer Premiere Dates For James Van Der Beek's 'Diplo' Comedy Series & More
CEO Shane Smith is considering taking Vice public amid “persistent speculation” that Disney might buy the company, Sky says.
Its backers include Disney, Fox, investment firm TCV, ad company WPP, former Viacom CEO Tom Freston, and merchant bank The Raine Group.
Subscribe to Deadline Breaking News Alerts and keep your inbox happy.