Former News Corp subsidiary 21st Century Fox is set to take a 5 percent stake in digital media and publishing group Vice, the Financial Times reports. The deal will total $70 million, according to Fox’s $1.4 billion appraisal of Vice.
With an announcement set for Monday, the companies are expected to announce a push for Indian and European markets, where Fox already has stakes in existing media companies. Speculation about the deal has been brewing since last October when News Corp head Rupert Murdoch tweeted, “Who’s heard of VICE media? Wild, interesting effort to interest millenials [sic] who don’t read or watch established media. Global success.” READ FULL STORY