Vice Says It’s Weighing IPO Prospects, Considering Buying a TV Network
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Vice Media, the company that combines punk culture with online journalism, is poised to double revenue to $1 billion by 2016 and may pursue an initial public offering, co-founder Shane Smith said.
The company, backed by billionaire Rupert Murdoch, expects to reach that mark in 12 to 18 months, with profit margins targeted to widen to 50% of sales from 34% now, Mr. Smith, 44, said in an interview with Bloomberg TV.
With young, sometimes tattooed reporters filing stories from a snake-infested island off Brazil or the civil war in the Central African Republic, Vice Media attracts a male viewer coveted by web and TV advertisers. The growing online, mobile and TV business could have a market value equaling Twitter’s $28.9 billion if Vice Media goes public, Mr. Smith said.
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