Vice Media Cuts Deal With A&E

New-media upstart Vice Media reportedly signed a deal with A&E Networks late last week that will put the value of Vice at a whopping $2.4 billion. The deal resulted in Vice selling 10% of their shares to A&E for $250 million, and gives them the big-media partnership they have been looking for (the company had previously been in talks with Time Warner). According to Vice CEO Shane Smith,"It means we can preserve our independence and it gives us a war chest for another three years of dramatic growth." Read the full story on the deal here.