Vice has 11 investors including TPG, Soros Fund Management, 21st Century Fox, and Disney. Refinery has 14 including WPP, Stripes Group, Scripps Networks, and Turner Broadcasting.Few details are widely known, but the deal was reported as being mostly stock. That reflects the fact that Vice isn't profitable, which limits a company's ability to raise money for a deal, M&A sources said.
Any cash that's part of the deal could benefit those investors that have a preference or be paid to Refinery29 managers as an incentive to stay on with the new company. But the cash is likely to be small compared to the amount of money raised. Another part of the fallout is for Vice employees who got company shares or options over the years. Some people who got those benefits have said they believed they would be essentially worthless and impossible to sell.
"They bring a killer experiential arm and expertise in spaces we weren't tapping," a Vice insider said.
SuccessionHBO 🤷🏼♂️
don't drag john legend into this
Gay
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