Global: TPG Capital invests $450m in Vice

Global: TPG Capital invests $450m in ViceVice CEO Shane Smith says additional funding will go toward video production. Photo: Brian Ach/Getty Images for TechCrunch

Private equity firm TPG Capital has brought the value of youth publisher Vice Media Inc. to $US5.7 billion following a $US450 million investment.

Chief executive and founder of Vice, Shane Smith, said that the new funding will go towards video production through the brand’s in-house studio. A new subscription model is also in development.

TPG Capital is currently conducting due diligence for Fairfax Media’s major assets, with the equity firm initially offering $2.7 billion. An updated offer is expected in the coming weeks.

The Conversation crosses the Tasman

Academic news site The Conversation has announced its expansion to New Zealand, with the appointment of the country’s first editor, Veronika Meduna.

The role became available through funding from four local universities: Lincoln University, Massey University, Victoria University of Wellington and University of Waikato.

The Melbourne-based news site has expanded rapidly since it was founded six years ago. The Conversation currently has editors based in the US, UK, France, Canada, Indonesia, Kenya and South Africa.

Australian reporter shot on assignment in The Philippines

One centimetre was the difference between life and death for ABC reporter Adam Harvey, who was shot while reporting in The Philippines last week.

The South East Asia correspondent for the national broadcaster was covering the conflict between Philippines military and Islamic State terrorists near the city of Marawi in the country’s south when he was shot in the neck.

The bullet missed Mr Harvey’s carotid artery by 1cm.

Mr Harvey was in one of the city’s “safe zones”. The National Union of Journalists of the Philippines used the incident to reinforce safety protocols.

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