Vice Media is in "advanced talks" to merge with theSPAC 7GC & Co. Holdings , $4.- The terms of the deal with the SPAC for ex-Morgan Stanley exec Jack Leeney have yet to be disclosed.
- 7GC & Co. Holdings raised $230 million in an upsized IPO in December.
The terms of the deal, including Vice Media's current valuation, have yet to be disclosed.
Jack Leeney's SPAC raised $230 million in $4 last December and trades under the symbol "VII".
The Information cited sources familiar with the matter, who noted that a deal between Vice and 7GC & Co. isn't guaranteed to go through.
The news site had previously reported Vice Media was in talks with two
That figure is less than half Vice's 2017 valuation of $5.7 billion, which followed a $4 from private equity firm TPG.
Vice Media operates the Vice.com news site, several Vice YouTube channels, the Viceland TV network, the Refinery29 platform, and several other properties aimed at younger audiences.
The company was founded in 1994 in Montreal, Canada, by Suroosh Alvi, Gavin McInnes, and Shane Smith.
Last week, Vice $4 a handful of top staffers in its digital unit, the latest in a line of cost-cutting initiatives from Vice Media CEO Nancy Dubuc, who took over the firm's operations in March 2018. Dubuc had previously $4 in 2020 and cut 250 people, or about $4, in 2019.
Vice is just one of a growing list of media companies that have either gone public via SPACs or plan on doing so in the near future.
Insider identified 12 media SPACs worth watching in $4
BuzzFeed is the latest example. The company is $4 via a
SPACs have raised more money so far in 2021 $4, although there are some signs $4.