Vice Media has announced it has made a minority investment in two youth brands, sinking $250m into both Technology Crossover Ventures and A+E Networks.
These investments will be used to develop digital products and distribution to enable audiences greater choice in accessing its content across all devices, screens, social networks and digital platforms. Vice will also develop thousands of hours of additional multi-screen content.
Shane Smith, VICE’s founder and CEO commented, “VICE is very excited to announce today that we have closed deals with both A+E on the media/terrestrial TV side and TCV on the tech side. We believe that these new partnerships position us at the forefront of the coming convergence of media and technology, while preserving and protecting our independence. High-quality content and innovative tech platforms will drive VICE through this next period of growth on our relentless quest for total media domination.”
Jay Hoag, TCV founding general partner commented, “VICE Media is an incredibly well positioned next-generation media company. Through a focus on high quality content, delivered across an array of online and mobile channels, the studio has expanded rapidly worldwide. We believe VICE has a great future, and we’re excited to support the company as it enters this next stage of growth.”