As Disney writes off its Vice investment, 10 Vice stories to help staffers cope: Publisher’s Brief

Welcome to the latest edition of Ad Age Publisher’s Brief, our roundup of news from the world of content producers across digital and print. Got a tip? Send it our way. Joining us late? Here's the previous edition. As Angela Doland notes in Ad Age’s Wake-Up Call this morning, citing a Vox/Recode report, Disney has written off its investment in Vice. Not a good week for Vice CEO Nancy Dubuc (recently profiled by Ad Age’s Jeanine Poggi) and her team. Recode’s Peter Kafka puts the development in stark terms in two tweets: Here, again, with context: Disney has written off its entire stake in Vice — the $400 million it put in directly, plus its A&E stake, its Fox stake, etc. All gone. https://t.co/9Bk7hptyJg — Peter Kafka (@pkafka) May 9, 2019 Disney still owns its stake, obviously. And some investors think Vice is worth something, which is why it could borrow a fresh $250 million this month. Still a stunning turnaround. — Peter Kafka (@pkafka) May 9, 2019 Let’s be brutally honest here. Many media people, who spent the last several years scoffing at Vice’s ever-increasing supposed valuation, wondered why it took so long for this day to come. The boundless hubris of Vice co-founder and longtime CEO Shane Smith—who last year kicked himself upstairs to executive chairman when Dubuc came on board—has been a bit hard to take. Flashback to August 2016, when Smith, in a Financial Times story headlined “Vice chief predicts old media ‘bloodbath,’” surveyed the M&A... Continue reading at 'Advertising Age'

[ Advertising Age | 2019-05-10 00:00:00 UTC ]
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