Yahoo bought Tumblr, Facebook bought Instagram and most recently 21st Century Fox invested in Vice Media.
Friday, 21st Century Fox (News Corp. has spilt into an entertainment company and a publishing company) invested $70 million to control 5% of youth centered Vice Media.
Vice is a magazine turned Media mogul catering to a young audience with a mix of news and pop culture. Vulgar, comic, and sarcastic tones are used to in much of Vice’s content which mostly relates to music, fashion, and pop culture; but hard hitting journalism is there as well. With their HBO series which was just renewed for a second season they explore anything international they find interesting from political assassinations to child suicide bombers.
What is first seen as an unusual buy form Murdoch (CEO of 21st Century Fox) due to content may not be so. David Lieberman from Deadline says “But it gives 21st Century Fox a foothold in a trendy digital media, TV, and publishing company that has captured the imaginations and financial support of former MTV chief Tom Freston, WME’s Ari Emanuel, WPP, and The Raine Group as well as comedian Bill Maher.”
While it’s thought that Fox in dipping into Vice to stay relevant with the younger, pop culture driven market; Vice is also planning to lean on Fox to reach into a wider international market for both their televised, digital, and print media.
AdAge’s Simon Dumeco goes as far as saying “This may end up being the most conservative media deal of the year, folks.”
If Vice’s $125 million made in revenues last year are any indication, I think Fox’s investment will be a positive move for the recently split entertainment company. We’ll have to keep an eye out to see if they try to increase their stake.