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
