The bankruptcy filing arrives just weeks after the company announced it would cancel its flagship “Vice News Tonight” program amid a wave of layoffs — which was expected to impact more than 100 employees in the company’s 1,500-person workforce
NEW YORK — Vice Media is filing for Chapter 11 bankruptcy protection, the latest digital media company to falter after a meteoric rise.
In a prepared statement, Vice co-CEOs Bruce Dixon and Hozefa Lokhandwala said the “accelerated court-supervised sale process” will strengthen the company and position it for long-term growth, “thereby safeguarding the kind of authentic journalism and content creation that makes VICE such a trusted brand for young people and such a valued partner to brands, agencies and platforms.”, the Wall Street Journal reported. The company also said it would end its Vice World News brand.
Vice Media’s roots date back to 1994, with the launch of Vice’s original punk magazine in Montreal. Vice soon moved to New York and built itself into a global media company.
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Vice Media files for Chapter 11 bankruptcy, the latest in a string of digital media setbacksVice Media is filing for Chapter 11 bankruptcy protection, the latest digital media company to falter after a meteoric rise. Vice has agreed to sell its assets to a consortium of lenders in exchange for $225 million in credit. Other parties will also be able to submit bids. The bankruptcy filing arrives just weeks after the company announced it would cancel its flagship “Vice News Tonight” program amid a wave of layoffs. The company also said it would end its Vice World News brand, making Vice News its only brand worldwide.
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Vice Media files for Chapter 11 bankruptcy, the latest in a string of digital media setbacksVice Media is filing for Chapter 11 bankruptcy protection, the latest digital media company to falter after a meteoric rise.
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Vice Media files for Chapter 11 bankruptcy, the latest in a string of digital media setbacksVice Media is filing for Chapter 11 bankruptcy protection, the latest digital media company to falter after a meteoric rise.
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Vice Media files for Chapter 11 bankruptcy, the latest in a string of digital media setbacksVice said Monday that it has agreed to sell its assets to a consortium of lenders — Fortress Investment Group, Soros Fund Management and Monroe Capital — in exchange for $225 million in credit.
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Vice Media Group files for Chapter 11 protection to facilitate saleVice Media Group, the company popularly known for its websites such as Vice and Motherboard, said on Monday it had filed for Chapter 11 protection to facilitate its sale.
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Vice Media Group files for Chapter 11 protection to facilitate saleThe company said in a court filing that it listed both assets and liabilities in the range of $500 million to $1 billion.
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