Jun 19, 2017

Vice lands $450 million in funding ahead of potential IPO

Sara Fischer

Vince Bucci/Invision for the Television Academy/AP Images

Vice Media has raised $450 million in new funding from private equity firm TPG Capital, which brings its valuation to $5.7 billion. Noticeably missing from this round's contribution was Walt Disney Co., which invested $400 million into the company two years ago for what was then an 18% stake (which will likely be diluted).

Why it matters: CEO Shane Smith told CNBC that the investment will help Vice build up "the largest millennial video library in the world," while also expanding its content options for its cable, mobile and digital platforms to include "news, food, music, fashion, art, travel, gaming, lifestyle, scripted and feature films." The company also continues to flirt with the idea of an IPO.

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Louisiana governor says state will run out of ventilators on April 9

Louisiana Gov. John Bel Edwards said on CNN's "State of the Union" Sunday that modeling projects his state will run out of ventilators for coronavirus patients on April 9 and hospital beds on April 11.

Why it matters: New York is the only state in the country with a worse per-capita death rate than Louisiana, where around 12,500 people have been infected and 409 have been killed.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 1,216,422 — Total deaths: 65,711 — Total recoveries: 252,478 — Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 312,245 — Total deaths: 8,503 — Total recoveries: 15,021 — Map.
  3. Public health latest: CDC launches national trackers and recommends face coverings in public. Federal government will cover costs of COVID-19 treatment for uninsured. The virus is hitting poor, minority communities harder and upending childbirth.
  4. 2020 latest: "We have no contingency plan," Trump said on the 2020 Republican National Convention. "We're having the convention at the end of August."
  5. Business updates: Restaurants step up for health care workers. Employees are pressuring companies to provide protections during coronavirus.
  6. Oil latest: Monday meeting among oil-producing countries to discuss supply curbs is reportedly being delayed amid tensions between Saudi Arabia and Russia.
  7. Education update: Many college-age students won't get coronavirus relief checks.
  8. What should I do? Pets, moving and personal health. Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Mike Allen

Trump sees "sooner rather than later" return of pro sports

Photo: Sarah Silbiger/Getty Images

President Trump predicted yesterday that the Republican National Convention will open as scheduled in Charlotte on Aug. 24 — "We have no contingency plan" — setting a new bar for a phased return to business in America.

The big picture: With the virus peak for New York projected as Thursday, and for the nation as April 15 (a week from Wednesday), Trump continued trying to leaven dire warnings with a sunny streak.

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