Vice Media swoops in on Refinery29's audience with acquisition

Financial Times reports that Vice Media will buy Refinery29, which will reportedly put the two digital media companies' value at $4bn. According to Vice Media CEO, Nancy Dubuc, Refinery29 is the right brand and cultural fit, with an audience - which mostly comprises of young women - that she expects to attract advertisers.

While the company declined to comment on financial terms with Refinery29, it said the deal would boost its online reach by 17%, while diversifying its 60% male audience. This agreement follows Vox's acquisition of New York Media - the company behind the flagship magazine as well as sites including Vulture and The Cut.