VII - Vice Media is said to be valued at $3B in SPAC deal with 7GC & Co.

Vice Media is expected to valued at about $3B when it goes public later this year through a deal with SPAC 7GC & Co. (VII).The deal will leave existing holders include PE firm TPG , Walt Disney (DIS), A&E Networks, merchant bank Raine Group and founder Shane Smith with a combined 75% ownership of the company, according to a WSJ report.The $3B valuation is a discount versus the $5.7B valuation Vice Media received in its last big investment round in 2017 with a $450 investment from TPG.In late March The Information reported that Vice Media was reportedly in “advanced talks” to merge with special purpose acquisition company 7GC.In March Bloomberg reported that Buzzfeed (BUZZF) was in talks to go public through SPAC 890 5th Avenue Partners (ENFAU).

For further details see:

Vice Media is said to be valued at $3B in SPAC deal with 7GC & Co.