A+E Networks is buying a minority stake in content company Vice Media, B&C reports, citing a source close to the situation. The news comes after Time Warner pulled out of talks to buy Vice.
“The A+E deal values Vice Media at $2.5 billion,” B&C reports. “For A+E, Vice offers a source of content aimed at young men that would be very compatible with A+E’s successful History Channel. Vice and History will be able to exchange programming and engage in cross-promotional activity.”
A+E Networks did not comment on the deal.
No reason was cited for the breakdown in talks between Time Warner and Vice. “The deal being discussed would have had Vice program Time Warner’s HLN cable channel, which has been getting a makeover to appeal more to social-media active millennial viewers,” B&C notes.