Vice Media has filed for bankruptcy protection, the latest digital media company to falter after a meteoric rise.Vice said on 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 $225m in credit. Other parties will also be able to submit bids.The Chapter 11 bankruptcy filing was announced weeks after the company announced it would cancel its flagship Vice News Tonight programme and lay off employees. The layoffs were expected to impact more than 100 employees in the 1,500-person workforce, The Wall Street Journal reported. The company also said it would end its Vice World News brand, making Vice News its only brand worldwide.
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