• Disney put more than $400m into Vice. Now it says that investment is worthless.
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https://www.vox.com/recode/2019/5/8/18537617/disney-vice-write-off-400-million Note: I had to edit the thread title, due to it's character limit.
So every media is going to be owned by Disney sooner or later?
All of those companies have different stories and different particulars. The through-line is that a few years ago, all of them were confident that they were going to shoot up in value, because they knew how to reach young audiences by exploiting the big tech platforms — in particular, Facebook and Google. Instead, Facebook and Google have hoovered up the majority of digital ad revenue — the money the new publishers expected to get once they reached scale. And publishers that had expected Facebook and Google to rely on them for content have learned that Facebook and Google don’t really need them, after all. One last caveat: You can’t say that Disney is saying Vice Media isn’t worth anything at all — just that Disney thinks its investment isn’t going to be worth anything. That’s a distinction with a difference for some Vice investors, who have deals that allow them to get their money from the company, in the case of a sale, before other investors. Basically, it's not that Vice is incompetent, they were just way overvalued and Disney bought them at their peak.
$400m to learn how to make a bong using only an old pair of shoestrings and a baguette
Disney owned vice of all fucken things???
In ten years or less if you work in media you're probably going to be owned by one of three companies: Disney, Google or Facebook
Disney owns about 26% of vice. 40% is owned by a private equity firm. You can see why vice is consolidating its brands.
This is pretty much what happened. It ran some of the best world-stage journalism when it came to informing about the life quality of the average person from 1999-2012 or so. Then they started revamping their style in favor of hipsters. Only hiring egomaniacal douchebags. That's about the state they were in when Disney bought them.
I'm pretty sure Rupert Murdoch has a 5% stake in it too
They were good for longer than that, Vice on HBO is (or at least was) excellent.
But how will I find out how to make bongs out of vegetables
Obligatory: https://m.youtube.com/watch?v=x6MxvzliG6I
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