Transcript for How Nice Is Vice?
Yeah. It's Tuesday June 10 the New York markets are open in today's big number get this 2.2 billion dollars. By some music council estimates that's how much advice media is worth what you see what do you say buys media -- -- on the one billion dollar -- Time -- reportedly trying to buying and the new digital media company hello everyone I'm Michelle Franzen in New York -- -- but the details -- and toll of Yahoo! finance. First of all might give us an idea. Many people may not know who and what vice media is all about. Sure you -- -- started out as kind of a maverick music magazine years ago and it's developed into kind of multi media. Company with some news very Ed G news youth focused news they do things like. News events also kind of -- music. Platform that they have also an ad agency inside so it's sort of a self styled. -- kind of -- media company focused on. Younger people. Pop culture. To some degree sports and news that tries to -- give information in a form that -- of younger consumers aren't. Accustomed to getting it. And people may not know they know about -- media but perhaps -- is best known for -- in an unforgettable trip to North Korea by Dennis Rodman. Take a look here of what that was all about so why would Time Warner wants and what does this deal do for Time Warner. Well like pretty much all of the large established media companies they're trying to figure out how to crack the code. On the use -- -- us basically cohort that doesn't really consume media in traditional ways. The obviously the the general. News viewing audiences down. People are not sort of sitting in front of their TVs and taking what's given to them any -- hasn't been away for a long time younger people prefer to get things. When they want and how they wanted to whatever device they wanted. And I think they also want. Con -- that sort of stands out from the rest of what's being offered out there and that might mean more attitude that might be more opinion might be. You know you -- -- -- stunts like the North Korea trip so. That's the idea that basically trying to tap into. This kind of you know youth culture in a way that seems very hard for large established media companies to do organically from the inside sort of -- Alternative outlet the news comes just a short time after Time Warner officially spun off -- the magazine company time magazine about vice -- and is this a sign of the new media age the shifting in that continues to go on its. Schori obviously the recognition of -- and exactly what was yesterday what might be tomorrow so. -- timing could still viable business still a dominant magazine digital magazine in these days publisher in many big categories but not growing has a somewhat older. Customer base and advertiser base. And -- Time Warner having shed that kind of old media business one of them anyway is probably going to have to justify itself. As a growth business out obviously Time -- -- time while Warner -- studios. HBO they're they're very familiar. With creating kind of popular -- -- contents on some level but they don't really have. Something on the news side. That they figured out obviously CNN's got too many refinanced. And none of them have necessarily kind of prevented the audience decline we've seen across news media. Also Time Warner has a little bit of room. The -- -- -- like centrally from Yahoo! finance thank you for joining us you can't of course keep up with the latest headlines right here on abcnews.com. Even watching the big number on Michelle Franzen -- New York.
This transcript has been automatically generated and may not be 100% accurate.