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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.

Go deeper

Ina Fried, author of Login
49 mins ago - Technology

Google's parent shuts down effort to deliver internet via balloons

Image: Loon

Alphabet is shutting down Loon, one of its "moonshots," which aimed to deliver internet service via high-altitude balloons.

Why it matters: The effort was one of several approaches designed to get high-speed connectivity to some of the world's most remote spots and proved useful in the aftermath of disasters that shut down traditional infrastructure.

Dave Lawler, author of World
1 hour ago - World

What has and hasn't changed as Biden takes over U.S. foreign policy

Photo Illustration: Brendan Lynch/Axios. Photo: Chip Somodevilla/Getty Images

President Biden swiftly recommitted the U.S. to the Paris climate pact and the World Health Organization, but America's broader foreign policy is in a state of flux between the Trump and Biden eras.

Driving the news: One of the most striking moves from the Biden administration thus far was a show of continuity — concurring with the Trump administration's last-minute determination that China had committed "genocide" against Uyghur Muslims.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Health: New coronavirus cases down, but more bad news ahead — Fighting COVID-19's effects on gender equality.
  2. Politics: Biden unveils "wartime" COVID strategyBiden's COVID-19 bubble.
  3. Vaccine: NYC postpones vaccine appointments following shipment delays — Private companies step in to fill vaccine logistics vacuum.
  4. World: Biden will order U.S. to rejoin World Health OrganizationBiden to bring U.S. into global COVAX initiative for equitable vaccine access.