The deal involved the valuation of Vice Media, whose investors include Walt Disney, WPP and A&E Networks, falling from $5.7bn to $4bn.

Lupa Systems, the investment holding company for James Murdoch, has agreed to invest an undisclosed sum in US-based, corporate-backed media group Vice Media at a $4bn valuation, the Financial Times has reported. The company will take a “small” stake in Vice, according to people familiar with the matter who confirmed the valuation. Murdoch formed Lupa…

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