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 http://vice.com” target=”_blank”>VICE failed to mention this weekend was its deal with billionaire https://twitter.com/rupertmurdoch” target=”_blank”>Rupert Murdoch and his 21st Century Fox media division. First made public by http://ft.com/intl/cms/s/2/e2db3cc4-0664-11e3-9bd9-00144feab7de.html#axzz2cHe33J9O” target=”_blank”>Financial Times late Friday evening with more details set to unveil tomorrow by both parties, the deal has Murdoch and http://21cf.com” target=”_blank”>21st Century Fox buying a 5% stake in VICE Media for a sum of $70 million.

Famous for his far-right leaning cable channel http://foxnews.com” target=”_blank”>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, http://allthingsd.com/20130817/meet-vice-media-boss-shane-smith-rupert-murdochs-wild-new-pal/” target=”_blank”>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.