The Hollywood Reporter the money will be used “to fund its growth initiatives including expanding Vice’s direct-to-consumer offerings, content licensing opportunities, commercial and experiential expansion, as well as M&A.” A representative did not immediately return TheWrap’s request for comment or further information.Beyond the new number, much of the reporting from earlier this week still stands, though THR noted co-founder Shane Smith will stay on as executive chairman.
The investors include James Murdoch’s Lupa Systems, Sixth Street Partners and Antenna Group.The valuation of the company couldn’t be determined, but reports earlier this year indicated a SPAC offered Vice about $2.5 billion — or about 56% less than its peak valuation of.
Read more on thewrap.com
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