This week A&E Networks, a television company jointly owned by Disney and Hearst, was negotiating to buy a 10% stake in Vice’s parent company. The deal would value Vice Media at $2.5 billion, nearly double what it was worth about a year ago when Rupert Murdoch’s 21st Century Fox bought a 5% stake, and ten times what Amazon’s founder, Jeff Bezos, paid for the venerable Washington Post last year.
BuzzFeed still produces a lot of fluffy content (including, this week, “27 Google Searches All Cat Owners Can Relate To”) but it is hiring foreign correspondents to provide more serious coverage. The Huffington Post, a pioneer of digital news, is seeking readers in places like France and Brazil. Few newspapers have established a truly global business, says Ken Doctor, a media analyst, but a handful of digital news firms could pull it off.
Read more at The Economist
