Private equity investor TPG’s $450 million (€404m) investment in Vice Media has valued the group at $5.7 billion.

Vice’s investors include WPP, 21^st Century Fox, Disney and A&E. The privately owned company does not reveal its financial performance but has claimed two years ago that revenues were $1 billion, although it later emerged this figure included future bookings, with the real total being closer to $500 million.

One Vice investor has told the Financial Times that revenues had grown 50 per cent a year every year since 2013.

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