Vice Media in talks to go public via SPAC deal
New-media company Vice Media is reportedly in talks to merge with the San Francisco special-purpose-acquisition company 7GC & Co Holdings, media reports say.
7GC is led by the tech investor Jack Leeney, who previously worked at Morgan Stanley.
Vice was recently valued at $2.5 billion, less than half its peak valuation of $5.7 billion, the tech-news website The Information reported.
7GC has raised $230 million, the report said.
Discussions with two different SPAC companies, including one led by two former Disney (DIS) - Get Report executives, Tom Staggs and Kevin Mayer, have fallen through, The Information reported.
Vice Media publishes Vice News and Refinery29 and operates TV channel Viceland, an ad agency and a documentary-production business.
Earlier this month it was reported that digital news media company BuzzFeed was in discussions with 890 5th Avenue Partners, also a SPAC, to list in the U.S. public markets.Read more