WPP bets on eccentric magazine moguls’ plan

VICE, the media group that includes the famous monthly magazine of the same name, has attracted funding from Sir Martin Sorrell’s WPP, the leading communications agency, as part of a multi-million dollar fundraising.

Vice has long had an anarchic reputation in the publishing world, not least because of bombastic statements from co-founder Shane Smith. Speaking about the latest round of investments, Smith said: “Vice has long been accused of having ambitions for total global domination. Today, we acknowledge the truth.

“We are forming an unholy alliance that will ensure no other media company will ever stand a chance against Vice’s relentless onslaught.”

Vice was formed by Smith, with friends Suroosh Alvi and Gavin McInnes, in 1994 as a small punk magazine in Montreal, Canada, and has since grown into a global youth media brand. Today, the glossy title has over 1.1m readers across more than 30 countries and has estimated annual sales of $8.4m.