Disney, A&E Networks and WPP-backed Vice Media has secured new funding in lieu of an anticipated reverse merger.
Vice Media, the US-based media group backed by entertainment conglomerate Disney, broadcaster A&E Networks and public relations agency WPP, has raised $85m from existing investors, The Information reported on Tuesday.
Lupa Systems, the investment holding company for James Murdoch, contributed to the round as did investment firms TPG, TCV and Sixth Street Partners.
The investment will support Vice’s aim of achieving profitability, people familiar with the situation told The Information.
The company was in talks for a reverse merger deal…
