Seeking to diversify its audience, Vice Media is reportedly negotiating to buy Refinery29, a women-focused media company. The Wall St. Journal reported that talks may not result in a deal, but that…
that talks may not result in a deal, but that if one its made, it would unite two of the largest venture-backed media companies in the US.
Both media companies have struggled over the last year, laying off staff to appease investor expectations. Refinery29 has rebounded using that strategy and has diversified its revenue streams, the said. Refinery29 sells ads, licenses its brand, and creates and distributes video for its current streams.Vice Media chief executive Nancy Dubuc, who came on board following a series of sexual harassment scandals at Vice, has been working to shore up the company and return it to profitability. More than half the company’s revenue comes from international businesses, the WSJ reports, and Vice is looking for a media partner to help expand its global news reach.
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