Earlier today news broke that negotiations between Vice Media and Time Warner went sour because Vice wanted too much money. It worked out just fine for Vice, though, as Time Warner's rival A&E stepped in and offered $250 million for a 10 percent stake. Because Vice isn't stupid a spokesman has confirmed it'll take the deal.
This valuates Vice at $2.5 billion and will give A&E a hell of a chance at grabbing the attention of millennials in a way that its networks—including Lifetime, Bio, and History—can't. Just last year Fox purchased a five percent share for $70 million, valuating the company at $1.4 billion.
After seeing a $1.1 billion jump in a year, CEO Shane Smith better be somewhere in Brooklyn doing the Shmoney Dance.
[via Deadline]
