The Presidential Daily Brief


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    Disney Reports $353 Million Loss on Vice Media

    The Walt Disney Co. disclosed in its quarterly earnings yesterday that it has written off $353 million from its 11 percent stake in the digital publisher — the second such accounting decision in less than a year. Combined with last September’s $157 million write-down, Disney’s lost some $110 million more than it originally invested in Vice, once valued at $5.7 billion.

    Why does it matter? Analysts say it’s symbolic of the hit that once-vaunted digital media companies have taken, pointing to the sales of Mashable and Mic in recent years for far less than their original stated value.

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