Vice Media acquires women’s lifestyle publisher Refinery29

The acquisition will help Vice reach out to millennial women, an audience which it lacks and Refinery29 caters to

by exchange4media Staff
Published - Oct 3, 2019 9:16 AM Updated: Oct 3, 2019 9:41 AM
Vice Refinery29

Vice Media has reportedly acquired the women’s lifestyle publisher Refinery29, in a deal valued at around $400 million.

As per reports, speaking about the merger, Nancy Dubuc, Chief Executive Officer of Vice, said, "With this acquisition, we’ll be growing our investment in premium content production across all our divisions”.

It is believed the acquisition will help Vice reach out to millennial women, an audience which Vice needs and Refinery29 mostly caters to with lifestyle and entertainment content. Refinery29 also has a very profitable events business. While the new entity will be known as Vice Media Group, Refinery29 will continue to function as an independent brand.

The acquisition is aimed at mutual survival for the companies in the face of the tough business environment. According to reports, Vice laid off 10 per cent of its staff this year and has consolidated many websites under the Vice.com umbrella.

However, in light of the merger, Vice Media will consider cutting jobs in its business and administrative wings but plans to hire more people in the editorial and creative departments.

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