Disney Takes $157 Million Write-Down On Vice Media

Read on: Deadline

The Walt Disney Co. took a $157 million write-down on its investment in Vice Media, the millennial-focused media company that is undergoing a restructuring. Disney invested a total of $400 million in Vice three years ago. It was one of several established media companies — together with 21st Century Fox and WarnerMedia’s HBO — to take a stake in the edgy media company that played up its appeal with male hipsters. Vice’s fortunes have dramatically changed since those days…