Time Warner in talks for stake in VICE Media

Time Warner is reported to be in talks to buy a large stake in VICE, the edgy digital media firm that began its life in Montreal in 1994.

Digital media firm attracts a young audience with edgy journalism

Time Warner CEO Jeff Bewkes spun off Time Inc. on Monday and was reported to be in talks to take a large stake in VICE. (Associated Press)

Time Warner is reported to be in talks to buy a large stake in VICE, the edgy digital media firm that began its life in Montreal in 1994.

SkyNews and Variety are reporting that Time Warner, which spun off its Time Inc. magazine unit on stock markets yesterday, wants to buy half of VICE for about $1 billion.

The deal would provide VICE, a multi-platform media network that screens primarily over the internet, with access to a traditional television network.

VICE already makes a documentary show for Time Warner’s HBO network.

Neither Time Warner nor VICE would confirm the companies were in talks.

One potential stumbling block is that 21st Century Fox bought a  5 per cent stake in VICE in 2013 for $70 million.

VICE Media is valued for its unusual reporting from around the world, which attracts a large, young audience, including stunts such as sending basketball player Dennis Rodman to North Korea last year.

VICE, now based in Brooklyn, N.Y. operates websites and video channels on YouTube and its own sites, and also produces documentary films, music videos and books.

Comments

To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). Pseudonyms will no longer be permitted.

By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. Please note that CBC does not endorse the opinions expressed in comments. Comments on this story are moderated according to our Submission Guidelines. Comments are welcome while open. We reserve the right to close comments at any time.