Vice Is Said to Target $3 Billion Valuation in SPAC Merger

Vice Media Inc., a cable and online entertainment group, is in talks to merge with a blank-check company, according to a person with knowledge of the matter, in a deal that values the business at about half what it was four years ago.

Under the proposal, Vice would combine with 7GC & Co. Holdings Inc., a special purpose acquisition company led by tech investor Jack Leeney, according to the person, who asked not to be identified because the matter is private.

Vice’s existing investors, including the private equity firm TPG and Walt Disney Co., would own ...