A holding company set up by James Murdoch is to acquire a minority stake in Vice Media Group.
The younger son of Rupert Murdoch and former chief executive of 21st Century Fox created Lupa Systems earlier this year with the intention of building a new portfolio of media companies.
Murdoch received around $2 billion as his personal share of the $71 billion sale of 21st Century Fox to Disney.
The Financial Times, which first reported the story, said the size of the stake was not known, but the investment was ‘small’. Murdoch has sat on the board of the millennial digital media outlet for a number of years.
Lupa acquired stakes in a comic book publisher and the Tribeca Film Festival as the son attempts to distance himself from the conservative leanings of his father
Vice, which developed a reputation for its edgy videos, has subsequently been through a series of reorganiations under its new CEO Nancy Dubuc.
In May it raised $250 million in debt from investors including George Soros. Fortress Investment Group LLC and Monroe Capital were also in the consortium.
