Time Warner pulls out of Vice deal

Moments ago, Jonathan Mahler broke some pretty big news on Twitter about Time Warner and Vice News…

Developing story, so stay tuned…

(UPDATE 1:20pET) — As reported on the NY Times by Jonathan…

Time Warner has ended negotiations to buy a major stake in Vice Media, according to a person briefed on the discussions.

The two companies started talking in June about the possibility of a joint venture. One scenario included Time Warner’s giving Vice control of the cable channel HLN, which would have provided Vice with a 24-hour network that reaches more than 100 million households.

The conversations collapsed after the two companies were unable to agree on a valuation of Vice, a fast-growing media business with a strong following among millennials.

Last year, 21st Century Fox paid $70 million for a 5 percent stake in the company, valuing the company at more than $1 billion.

A spokesman for Vice was not immediately available for comment.

UPDATE (2:25pET) — HLN’s Morning Express weather anchor Bob van Dillen took to Twitter to comment on the latest HLN/VICE News rumors… And let’s just say, it was quite comical!

Categories: HLN

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