Vice Media has sold a 5% stake worth $70 million to Rupert Murdoch’s 21st Century Fox. Murdoch has hinted at being an admirer of the brand in the past, tweeting after a visit last year to Brooklyn: “Who’s heard of VICE media? Wild, interesting effort to interest millennials who don’t read or watch established media. Global success.”

The link-up allows Vice to expand into Europe and India with the help of 21st Century Fox’s assets, which include stakes in Sky television channels and chimes with the declared aims of Vice’s co-founder, Shane Smith, for his company to become “MTV, ESPN and CNN rolled into one.”

Minority shareholders hold around 25% of Vice. Vice’s founders will continue to have majority control of the board in a structure that Smith said “gives us the freedom to do what we want to do.”

For more info, visit the Guardian.