https://sputnikglobe.com/20230502/us-media-outlet-vice-may-file-for-bankruptcy-in-coming-weeks-1110019558.html
US Media Outlet Vice May File for Bankruptcy in Coming Weeks
US Media Outlet Vice May File for Bankruptcy in Coming Weeks
Sputnik International
US media outlet Vice could file for bankruptcy in the coming weeks after failing to find a buyer so far this year, the New York Times reported citing people familiar with the matter.
2023-05-02T03:26+0000
2023-05-02T03:26+0000
2023-05-02T03:22+0000
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Citing insiders, US media reported on Monday that the company still has time to find a buyer, and that more than five companies have shown interest. The names of the interested parties were not detailed, although the same sources indicated buyout chances were slim.Vice was worth $5.7 billion in 2017, but it is now reportedly valued at a small fraction of that estimate.If Vice falls into bankruptcy, the company could end up being controlled by its largest debt holder, Fortress Investment Group. The news company, according to media reports, struggled for years to earn a profit and has made several rounds of layoffs.
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US Media Outlet Vice May File for Bankruptcy in Coming Weeks
WASHINGTON (Sputnik) - US media outlet Vice may reportedly file for bankruptcy in the coming weeks after failing to find a buyer so far this year.
Citing insiders, US media reported on Monday that the company still has time to find a buyer, and that more than five companies have shown interest. The names of the interested parties were not detailed, although the same sources indicated buyout chances were slim.
Vice was worth $5.7 billion in 2017, but it is now reportedly valued at a small fraction of that estimate.
If Vice falls into bankruptcy, the company could end up being controlled by its largest debt holder, Fortress Investment Group.
The news company, according to media reports, struggled for years to earn a profit and has made several rounds of layoffs.
