Rupert Murdoch and 21st Century Fox Purchased 5% Stake in VICE Media for $70 Million

By - August 19th, 2013
Rupert Murdoch and 21st Century Fox Purchased 5% Stake in VICE Media for $70 Million

VICE Co-Founder Shane Smith with Libyan Rebels

Ladened with eye-rolling headlines such as “Orson Scott Card Is Officially the Most Racist Sci-Fi Author,” “Greek Neo-Nazi Beach Party!” and “Moscow’s Real-Life Fight Club Looks Insane,” one story VICE failed to mention this weekend was its deal with billionaire Rupert Murdoch and his 21st Century Fox media division. First made public by Financial Times late Friday evening with more details set to unveil tomorrow by both parties, the deal has Murdoch and 21st Century Fox buying a 5% stake in VICE Media for a sum of $70 million.

Famous for his far-right leaning cable channel Fox News and his other conservative causes, Murdoch’s investment in the ultra-liberal VICE Media is somewhat of a surprising move by the crusty 82 year-old, who tweeted about his visit to VICE’s Brooklyn headquarters last year. What’s more surprising is the valuation of VICE Media through the deal, which has it at around $1.4 billion (that is a “b” as in billion). For comparison, AllThingsD pointed out that the New York Times has around $1.7 billion only and Washington Post was sold to Amazon.com’s founder Jeff Bezos for a paltry $250 million earlier this month. Seems like VICE co-founders Shane Smith and Suroosh Alvi will be doing some more traveling this year…

Rupert Murdoch and 21st Century Fox Purchased 5% Stake in VICE Media for $70 Million Rupert Murdoch and 21st Century Fox Purchased 5% Stake in VICE Media for $70 Million Rupert Murdoch and 21st Century Fox Purchased 5% Stake in VICE Media for $70 Million
1 comments
GlenMarion
GlenMarion

70 million doesn't flat out buy Vice? Wow, I need to film some North Korean videos.