Vice Media, which was once valued at $5.7 billion, had embraced the woke ideology and is now set to be acquired out of bankruptcy for $400 million by Fortress Investment Group and Soros Fund Management.
This acquisition deal will eliminate all stockholders, including James Murdoch, TPG, and Sixth Street Partners, and the plan is also to clear the debts held by TPG and Sixth Street, according to The Wall Street Journal.
Fortress Investment Group, which is the company’s largest debtholder, is expected to take over management control, with Vice co-founder Shane Smith likely to play a part in the firm’s future direction.
