Is Vice Media worth two Instagrams? Time Warner thinks it might be. The company is in talks to buy a major stake of Vice for roughly $2.2 billion, and is apparently considering injecting its HLN news into Vice in exchange for about half of the company. Vice now operates an ad agency, a record label, and a TV show, along with its news operation. "I want us to be the next MTV, ESPN and CNN rolled into one - and everyone always rolls their eyes," co-founder Shane Smith said last year. "The reality is that MTV was bought by Viacom and CNN went to Time Warner. We have set ourselves up to build a global platform but we have maintained control."