Time Warner Pulls Out of Vice Negotiations; A&E Steps In

By

The old media giant’s plan to buy a big stake in Vice, and potentially give it control of Time Warner network HLN, have broken down, the New York Times reports, “after the two companies were unable to agree on a valuation.” Rupert Murdoch previously invested at a valuation of more than $1 billion, while initial reports put Vice’s worth in this deal between $2 billion and $3 billion. Instead, A&E, owned jointly by Disney and Hearst, will buy a ten percent stake for $250 million, putting the company’s value right at $2.5 billion.