A+E Networks will pay $250 million for a 10 percent stake in Vice Media, a spokesman from Vice told TheWrap.
The investment means that Vice has an estimated $2.5 billion valuation. Friday morning talks between Vice and Time Warner reportedly broke down because Time Warner disagreed with the valuation number. Time Warner placed the valuation at $2 billion. The two companies were discussing a joint venture, including a potential situation where Time Warner would give Vice control of cable news channel HLN.
Also read: Time Warner Ends Negotiations With Vice Media
Vice, which is aiming to be the Millennial news source, is a digital media company that operates a network of online channels that covers news, sports, technology and music.