Vice Media has secured a $450 million investment from private-equity firm TPG, as the youth-focused digital media company looks to step up its spending on scripted programming and plans a direct-to-consumer service. (WSJ)
The deal boosts Vice’s valuation to $5.7 billion, a source familiar with the company confirmed. The youth media company will use the investment to build a global scripted studio, as well as develop new over-the-top streaming video and direct-to-consumer offerings. (THR)
Vice, which also makes a daily news show for HBO, is in 80 countries but wants to do more in feature film and is widening its direct-to-consumer business. (New York Post)
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