![]() Later that month, Walt Disney Company disclosed a $353 million writedown on its investment in Vice. In May, Vice Media raised $250 million in debt. Last week, Vox Media acquired New York Media in an all-stock transaction.īoth Vice Media and Refinery29 are supported by venture capital funding. ![]() This deal comes as other media companies consolidate and collaborate to better compete for digital ad dollars. The remaining verticals include Vice News, Motherboard (tech), Noisey (music) and Munchies (food). That change came as part of Vice Media's strategy to bring its verticals under the umbrella. Vice Media previously ran a women-focused site called Broadly, but rebranded it as Vice Identity in May. Refinery29 launched as a fashion site in 2005 but has since expanded its coverage to beauty, health, entertainment, food, politics and general news - all told with a focus on millennial women. Vice launched as a youth culture magazine in Canada and has since grown into a robust media organization that produces news, documentaries, films and web series, among other content. Vice Media's staff previously had an equal gender split but will now be majority women, according to the release. The deal not only expands Vice Media's overall audience size but adds more female-focused content to its roster. We will not allow a rapidly consolidating media ecosystem to constrict young people's choices or their ability to freely express themselves about the things they care about most," Vice CEO Nancy Dubuc said in a statement. VICE Media Group and Refinery29, two of the strongest independent voices in the industry, will continue to build a scaled global and diversified media company. "This is an expansive moment for independent media. The FT, which broke the news, reported it was a "mostly stock transaction." According to the sources, the deal will value Refinery29 at less than $500 million, but the exact dollar amount is unknown. The two companies announced the deal in a press release Wednesday. (CNN) - Vice Media, the notoriously provocative company that has courted controversy for its approach to the news, has acquired the women-focused digital media company Refinery29.
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