• by Erik Sass  @eriksass1, December 9, 2015

Bambi’s getting tatted up. Walt Disney Co. has doubled down on its investment in hipster news juggernaut Vice Media, increasing its stake from 5% to roughly 10% -- worth $400 million, according to The Financial Times, which first reported the news.

The new investment is a big vote of confidence in Vice Media’s fast-growing multimedia strategy and comes just a few weeks after Disney first took its original $200 million stake in the edgy news org, lauded for its ability to reach the coveted Millennial demographic.

Disney’s investments are already bearing fruit.

A+E Networks, co-owned by Disney and Hearst Corp., took a separate $250 million stake last year and is now collaborating with Vice to launch a new cable network called Viceland, set to debut February 28, 2016.

The next round will be used to expand Vice’s international programming.

Of course, Disney isn’t the only traditional media company interested in benefiting from Vice’s cachet and expertise in catering to younger adults. Back in August 2013, 21^st Century Fox paid $70 million for a 5% stake in Vice, and global ad holding company WPP bought a stake back in 2011.

Also this year, Vice and HBO announced that the premium cable channel will carry a daily, half-hour newscast produced by Vice Media, appearing five days a week, 48 weeks a year.

The daily newscast extends HBO’s previous partnership with Vice, which has been producing a newsmagazine for HBO since 2013.