1 year ago
49
Digital publisher and owner of Vice News and Vice TV was once valued at $6bn but has agreed sale for $225m
Vice, the once high-flying media startup which reached a peak valuation of nearly $6bn (£5bn) has filed for bankruptcy protection in the US as the digital publisher engineers a cut-price sale to a group of lenders.
The company, whose assets include Vice News, Motherboard, Refinery29 and Vice TV, has agreed a sale to a consortium that includes Fortress Investment Group, Soros Fund Management and Monroe Capital for $225m in the form of a credit bid for its assets as well as assuming Vice’s “significant liabilities”.
Continue reading...