Vice Media close to deal for sale out of bankruptcy

Rescue deal for publisher would wipe out existing shareholders, including James Murdoch

• How Vice and BuzzFeed fell to earth

Vice Media is nearing a deal to be bought out of bankruptcy by senior lenders in a process that will wipe out existing shareholders including James Murdoch.

The Wall Street Journal reported on Friday that senior lenders led by the private equity firm Fortress Investment Group are close to agreeing a rescue deal for the global news publisher and TV company.