Vice valued at $1.4B with investment from 21st Century Fox

From The Wrap:

21st Century Fox has acquired a five percent stake in Vice, a blossoming media empire spanning magazines, film, TV and online, in a deal that values the company at $1.4 billion, according to the two companies. Fox’s predecessor News Corp. made the deal before it split into two companies, Fox and News Corp., and the investment will be housed under Fox, home to the company’s entertainment assets.

21st Century Fox split from News Corp earlier this year. The deal puts Vice’s value at $1.4 billion, which Gawker took issue with.

While Vice began as a magazine in Montreal, it is now located in Williamsburg.