Vice Media has acquired Refinery29, a lifestyle website targeting women, forming what Vice calls “the world’s largest digital media business.”
Refinery29 is expected to help Vice draw more of the female audience its platforms have lacked. A report in the New York Times values the mostly-stock deal, which follows last week’s acquisition of New York Media by Vox Media, at $400 million.
Vice Media Group CEO Nancy Dubus will lead the combined company, with the Refinery29 business reporting directly to her.
The Times report says that Vice is considering shedding some positions in its business and administrative units, but is planning to beef up the editorial and creative side.
A Vice statement says that investment in “premium content production” across all its platforms will grow 20 percent.
Dubus also said that in contrast to the “bro”-centric image Vice has maintained, the addition of Refinery29 staffers means that “our company will be majority women.”