Vice Media nabs $450M investment

The global media brand will invest in more scripted content and announced plans to launch an OTT platform.
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Vice Media is set to turn a $450 million investment into a new scripted studio and OTT offering.

U.S. asset management firm TPG will make a minority investment in the media brand, Vice Media announced Monday.

The new money will be used to launch and finance Vice Studios, which will be based in the U.S and focus on producing scripted content for multiple platforms in the States and internationally. Canadian programming will continue to be produced under the Vice Studio Canada banner.

Rogers Media and Vice announced a $100 million partnership in 2014 to launch a Canadian channel and production studio for homegrown content. The production facility has since produced docuseries Rise with APTN, as well as reality series Dead Set on Life, among others. Vice got into the scripted game in Canada last year with nirvanna the band the show and will debut Fubar: The Age of the Computer on City this fall. In the U.S., What Would Diplo Do? a scripted comedy starring James Van Der Beek, is set to bow this August.

Vice also announced it plans to use the investment to build OTT and direct-to-consumer offerings that will be “curated through Vice’s sensibility” and provide access to new and exclusive content, as well as its program library. A representative from Vice Canada said the company is currently exploring launching the OTT platform in multiple markets, which could include Canada, though no further details were provided.

The company stated it is committed to delivering programming into 80 territories by Q1 2018, across all platforms.

Vice currently owns and operates 13 digital channels covering a wide range of programming, from music to gaming to lifestyle.