Walt Disney Co. doubles its stake in Vice Media
The Walt Disney Co. has doubled its stake in Vice Media to $400 million and now owns about 10% of the edgy media company, according a person with knowledge of the matter.
The company produces a 30-minute news show that airs on HBO and has a film division, among other ventures.
Earlier this year, Burbank-based Disney invested $200 million in Vice, which is based in Brooklyn, N.Y.
Vice, which is headed by co-founder and Chief Executive Shane Smith, will launch a cable channel next year with partner A&E Networks. Called Viceland, the network is scheduled to debut in February.
Vice was founded in 1994 as a free alternative weekly magazine in Montreal.
Disney declined to comment.
News of the investment was first reported by the Financial Times.
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