Walt Disney has doubled its stake in Vice Media after investing a further $200 million (£132 million) in the edgy media group.
The move sees Disney take its total stake in the company to 10 per cent.
The new funds are expected to be put towards TV and multi-platform programming at Vice, ahead of the launch of its own cable television network, Viceland, in February next year.
The plans come despite Vice CEO and founder Shane Smith previously stating that young people are “leaving TV in droves”.
Alongside Walt Disney, other prominent media companies have shown an interest in Vice in recent years. 21st Century Fox owns a stake in the company, as well as advertising giant WPP. Technology Crossover Ventures, the fund that holds stakes in Facebook and Netflix, invest $250 million in Vice late last year.
The deal means that Vice, founded in 1994 as a free alternative weekly magazine, is now valued between $4.2 billion and $4.5 billion.
