Vice Media, the longtime magazine publisher that has established itself with a strong presence on YouTube, is close to a deal that would have A&E, owned by Disney and Hearst, investing $250 million to take a 10 percent stake, according to the New York Times. The company is hoping, with time, to create its own 24-hour Vice network. “The investment will also give Vice an infusion of cash to develop shows for mobile, the web and traditional TV, to move content between those platforms, and to acquire new media assets,” the Times notes. Vice had been in talks with Time Warner Inc. about a deal since June, but the companies couldn’t come to terms on the valuation of Vice, or how much control Vice would have over Time Warner news channel HLN, the Times said. “The biggest thing we were looking for was complete independence,” said chief executive Shane Smith. “We didn’t want to give up a big stake.” 21st Century Fox bought a 5 percent stake in the company last year for $70 million.
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