True Pundit

Business

Vice boss Shane Smith predicts ‘bloodbath’ of media consolidation in 2017

FOLLOW US!
Follow on FacebookFollow on Twitter

Vice Media will go on an acquisition spree next year as Shane Smith’s company looks to take advantage of a “bloodbath” of consolidation in the digital-media industry.

Smith, Vice’s cofounder and chief executive, said the millennial-media giant is building a “war chest” of funding to “go out there and buy market share.”

He made the comments in a press briefing ahead of delivering theMacTaggart lecture at theEdinburgh International Television Festival, a landmark event in the British TV industry calendar.

Smith predicted that 2017 will be a period of enormous consolidation in the digital-media business, with another economic crash fueling a “bloodbath” of deals as old-media buyers build scale and online content firms strive to secure much needed cash. – READ MORE

FOLLOW US!
Follow on FacebookFollow on Twitter