Vice Media Reportedly Planning SPAC Deal With $3 Billion USD Target Valuation

Almost half of its $5.7 billion USD valuation back in 2017.

Entertainment 
8,941 Hypes 14 Comments

Vice Media is now seeking a SPAC deal in order to go public later this year, with an expected valuation of $3 billion USD.

According to various reports, the Brooklyn-based company is now working through a merger with a blank-check firm named 7GC & Co. in order to become publicly listed. The deal would give Vice a market valuation of “nearly $3 billion [USD] including debt” which it currently owes to private equity firm TPG, although the New York Post points out that the sum is almost half of the $5.7 billion USD valuation it received back in 2017 during a funding round which saw an injection of $450 million USD in capital by TPG.

If the deal goes through, Vice’s executive chairman Shane Smith and CEO Nancy Dubuc will both retain their positions and board seats at the company, while 7GC’s tech investor Jack Leeney will also be joining the board.

Neither Vice nor 7GC has made any public comments regarding the merger.

Elsewhere in business-related news, GAP has declared second-quarter dividends and resumed its share repurchase program.

Read Full Article

What to Read Next

A24 Reportedly Explored a Possible Sale With a $3 Billion USD Asking Price
Entertainment 

A24 Reportedly Explored a Possible Sale With a $3 Billion USD Asking Price

The studio behind ‘Moonlight’ and ‘Uncut Gems.’

Soho House Targets $3.2 Billion USD Valuation Ahead of New York Public Listing
Travel 

Soho House Targets $3.2 Billion USD Valuation Ahead of New York Public Listing

Planning to raise as much as $480 million USD through its IPO listing.

Ermenegildo Zegna Goes Public With $3.2 Billion USD Valuation
Fashion 

Ermenegildo Zegna Goes Public With $3.2 Billion USD Valuation

Raising funds to rebound from the pandemic and for potential acquisitions.


GOAT's Valuation Balloons to $3.7 Billion USD
Footwear 

GOAT's Valuation Balloons to $3.7 Billion USD

After a $195 million USD Series F funding round.

Apple's New M1 iPad Pros Are Much Faster Than Previous MacBook Pros
Tech

Apple's New M1 iPad Pros Are Much Faster Than Previous MacBook Pros

Pitting the Apple’s M1 chip against Intel’s Core i9 processor.

Unseen Works by Yayoi Kusama Auctions for a Total Of $15.2 Million USD at Bonhams
Art

Unseen Works by Yayoi Kusama Auctions for a Total Of $15.2 Million USD at Bonhams

The highest-selling piece was priced at $4,590,313 USD.

10 of the Best Art Exhibitions Reopening in London in 2021
Art 

10 of the Best Art Exhibitions Reopening in London in 2021

From big names like Hockney and Kusama to the launch of London Gallery Weekend.

Carhartt WIP Embraces Its Workwear Heritage for SS21
Fashion

Carhartt WIP Embraces Its Workwear Heritage for SS21

From double-knee denim to pin-striped overalls.

Intel's 11th-Gen H-Series CPUs are 19% Faster Than Its Predecessors
Tech

Intel's 11th-Gen H-Series CPUs are 19% Faster Than Its Predecessors

Built on the company’s own 10nm Willow Cove architecture.


Snoop Dogg Developing Anthology Series About His Life
Music

Snoop Dogg Developing Anthology Series About His Life

Beginning from how his father and mother met, then going into his childhood and eventual career.

Zachary Quinto and Billy Porter to Voice Gay Dads in 'The Proud Family: Louder and Prouder'
Entertainment

Zachary Quinto and Billy Porter to Voice Gay Dads in 'The Proud Family: Louder and Prouder'

Playing Barry and Randall Leibowitz, parents to Maya Leibowitz.

New Xbox Series X/S Update Brings Back Glowing Green Blob Background
Gaming

New Xbox Series X/S Update Brings Back Glowing Green Blob Background

Xbox’s original first-gen theme makes a return.

Lay's Brings Back Its "Cheesy Garlic Bread" Chips
Food & Beverage

Lay's Brings Back Its "Cheesy Garlic Bread" Chips

Originally launched back in 2013.

8 Drops You Don't Want to Miss This Week
Fashion 

8 Drops You Don't Want to Miss This Week

Featuring Supreme, Palace, CELINE, Raf Simons, Stüssy and more.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Adblock Detected.

We charge advertisers instead of our readers. If you enjoy our content, please add us to your adblocker's whitelist. We'd really appreciated it.