Woke Vice Media Files For Bankruptcy
Looks like it's the end of the road for Vice media!
View Source | May 15, 2023 10:48 am
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- Media company Vice filed for Chapter 11 bankruptcy protection on Monday morning to facilitate its sale as a group of lenders including Soros Fund Management stand ready to acquire the troubled outlet.
- Its financial troubles came after a tumultuous set of challenges over the years as it blossomed from a basic punk magazine into a global news outlet with deals at HBO and its own film studio.
- Vice said it had now agreed to the terms of an asset purchase agreement with a consortium of its lenders. These include Fortress Investment Group, Soros Fund Management and Monroe Capital.
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