Report: Time Warner wants a stake in Vice Media

Time Warner is in talks to buy a "major stake" in Vice Media for about $2.2 billion, says a report by Britain's Sky News.

If the deal is completed, Time Warner may integrate one of its cable news channels, HLN, with Vice to form a new company and seize about half of it.

Their talks are "at an advanced stage but that some final details had yet to be agreed," the report said.

Vice, which was founded in 1994 as a magazine in Montreal, has grown with a diversification strategy that emphasizes provocative video journalism and other non-print assets.