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Banks

Disney doubles stake in Vice to $400 million: source

A part of the signage at the main gate of The Walt Disney Co. is pictured in Burbank, California, May 7, 2012. REUTERS/Fred Prouser

(Reuters) - Walt Disney Co DIS.N is doubling its stake in youth-focused digital media company Vice Media to $400 million, a source familiar with the matter said.

The deal will boost Disney’s stake in Vice to about 10 percent and values the company at more than $4 billion, the source said.

FT first reported the news on Tuesday. (on.ft.com/21MuwNK)

Disney was not immediately available for comment.

Reporting by Anya George Tharakan in Bengaluru; Editing by Savio D’Souza

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