Freston, Raine Group, WPP Back More Vice

Vice Media, peddler of provocative magazines, books and video, took a significant outside investment Tuesday from a close-knit, if not incestuous, set of deep pockets.

Advertising and media conglomerate WPP, alongside former Viacom head Tom Freston and The Raine Group, a boutique merchant bank founded by former media investment bankers Joseph Ravitch and Jeffrey Sine, plunked down a reported “high eight figure” sum for a minority stake in the New York-based purveyor of hipster content that now has grand ambitions.

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