Vice Media has raised $450m from TPG at a $5.7bn valuation, adding to earlier funding from the likes of Walt Disney, 21st Century Fox, A&E Networks and WPP.

Vice Media, a US-based media group backed by corporates Walt Disney, 21st Century Fox, A&E Networks and WPP, has received $450m in equity financing from private equity group TPG, CNBC reported yesterday.

TPG provided the cash at a $5.7bn valuation, Vice co-founder and CEO Shane Smith told CNBC, a substantial increase from the $4bn valuation at which Walt Disney Company provided Vice’s last funding in late 2015.

Founded in 1994 as a local zine, Vice operates a media operation that…