Vice Media has completed a $450m investment from TPG, the private equity group, in a deal the youth-focused company said valued it at $5.7bn — more than double its valuation of three years ago.
Fairfax Media appears extremely close to being declared ‘on the market’ as a new bidder, Hellman & Friedman, entered the auction room on Wednesday night with an indicative offer that trumped the TPG offer already on the table. This could easily mark the start of a bidding war between two US private equity groups, likely to move the 176-year-old media group into foreign hands.
The private equity giant Blackstone is among a pack of investment firms weighing £1.2bn takeover bids for the media conglomerate which owns the Cannes Lions advertising festival
