Disney has upped the ante to $400 million for its stake in the high-profile digital media company Vice Media. According to The Hollywood Reporter, Disney doubled its stake in Vice and now owns about 10% of the company.
The deal values Vice at a little more than $4 billion, according to the report, which cites unnamed sources who are familiar with the company.
“The investment comes on the heels of the November news that Vice will take over cable channel H2 and rebrand it as Viceland next year. At the time, Disney committed $200 million to Vice,” THR notes.
The report adds: “In addition to gearing up for the launch of Viceland, Vice is also prepping the premiere of its daily news show for HBO and is planning an aggressive expansion in European television in 2016. A source explains that the new investment will go toward Vice’s television programming and its multi-platform initiatives internationally.”