VICE Media is coming to TV. The Wall Street Journal is reporting that the alternative media company is nearing a deal with A+E Networks. Under the terms of the agreement, VICE would take over the network's H2 channel and repurpose it as a part of the VICE media empire.
Rumors of such a move have been present ever since A+E invested $250 million in VICE last year.
"We've been looking pretty much everywhere for different partners," said Shane Smith, Vice's chief executive, in an interview last year. "The biggest thing we were looking for was complete independence. Everybody wanted a majority stake or a big stake. We didn't want to give up a big stake."
VICE, a strong digital player known for its edgy and diverse reporting, is on track to hit $1 billion in revenue this year.
"We're valuable. Right now we have a decision to make, because we're topping out the valuation where a media company should buy us." Said VICE CEO Shane Smith in an interview with CNBC last month. "Once we get into the next wave, it's either the major telcos or Apple or Google. If we're getting too expensive for media [acquisition] then, do we go public? We're kind of at the top end where media could buy us today."
The WSJ report is skeptical of that claim however.
''people familiar with the financial information Vice has been sharing with potential investors say that the company's revenue this year is on track to be less than $500 million under generally accepted accounting principles, or GAAP, up from about half of that in 2014.'' Says the article.
Regardless, the company is still one of the stars of the new media market and is looking to grow even further. In addition to the US channel, it plans to launch around 10 to 15 international networks by next year.
