Moments ago, Jonathan Mahler broke some pretty big news on Twitter about Time Warner and Vice News…
SCOOP: Time Warner pulling out of deal talks with Vice. Story to follow.
— Jonathan Mahler (@jonathanmahler) August 29, 2014
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!
Love the Friday before Labor Day. I’m relaxing as if my head just got taken out of a Vice.
— Bob van Dillen (@BobVanDillen) August 29, 2014