Sign up to receive 5 free days of our daily summary for tech news.

Join us for just $10/month for our analysis of Facebook's new cryptocurrency announcement on 6/18.

Disney Writes Down Stake in Vice by 40%

Disney now says its stake it Vice is worth 40% less than when it first invested in the company. Disney wrote down its $400 million investment by $157 million, it disclosed in its latest earnings report. The news follows a Wall Street Journal report that Vice was going to miss its earning goals for the second year in a row. The writedown suggests that Vice might struggle to match its last fundraising valuation of $5.7 billion.

Disney CEO Bob Iger also disclosed on the call that the company plans to launch Hulu overseas once Disney gains control of the service, when it completes the purchase of much of 21st Century Fox early next year. Iger indicated he’s interested in raising the price of Hulu’s cable television bundle (or at least having a higher-priced option).


0 Subscriber comments

Sign up for our weekly newsletter and 5 complimentary days of our daily tech news roundup.

Already a subscriber? Log in here