Vice Media files for bankruptcy protection
Company expected to be saved through acquisition
The American media company Vice Media has filed for bankruptcy protection after experiencing a decline in its finances for some time. Just a few weeks ago, the company announced that it would restructure, resulting in dozens of employees being laid off.Vice Media started its operations in 1994 and operates services such as Vice, Motherboard, and Refinery29. However, it seems that the company will not go under as a consortium consisting of Fortress Investment Group, Soros Fund Management, and Monroe Capital has made a bid to buy Vice Media.According to a press release from Vice Media, other interested parties can also make a bid to buy the company if they submit a better offer. If this does not happen, the deal between Vice and the consortium that wants to buy the company is expected to be completed within two to three months.Above is a segment from Yahoo Finance where they discuss Vice Media and other economic news from the media industry.
prnewswire.com
Society,
Vice Media,
bankruptcy protection,
restructuring,
Fortress Investment Group,
Soros Fund Management
Via
edition.cnn.com
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37.0°
0Wille Wilhelmsson
tis. 16 maj 2023, 10:00
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