![]() ![]() History Founding and early years (1994–2005) In June 2023, Vice Media agreed to be acquired by a consortium led by Fortress Investment Group for $350 million in the bankruptcy sale. In May 2023, Vice filed for Chapter 11 bankruptcy as part of a plan to sell itself to a consortium of companies. ![]() In August 2019, it was reported that the company was laying off staff, as part of a shift towards news that would involve merging Viceland and Vice News. However, on 10 June 2019, HBO announced the news program's cancellation in addition to ending relations with Vice Media, after a seven-year partnership. They also broadcast Vice News Tonight, which premiered 10 October 2016, showcased a nightly roundup of global news, technology, the environment, economics, and pop culture while eschewing traditional news anchors. Vice features segments on global issues hosted by co-founders Smith and Alvi, and a rotating cast of correspondents. Vice Media originally broadcast their news programs on HBO, including the Emmy-winning weekly documentary series Vice, which premiered in April 2013. Vice re-located to New York City in 2001. This included online content verticals and related web series, the news division Vice News, a film production studio, and a record label among other properties. ĭeveloping from Vice magazine, originally founded and based in Montreal and co-founded by Suroosh Alvi, Shane Smith, and Gavin McInnes, Vice expanded primarily into youth and young adult–focused digital media. ![]() It was cited as the largest independent youth media company in the world, with 35 offices. As of June 2021, the Vice Media Group included five main business areas: (digital content) Vice Studios (film and TV production) Vice TV (also known as Viceland) Vice News and Virtue (an agency offering creative services). Last month another of the digital challengers, BuzzFeed, said it was shutting down its award-winning news department and would be making substantial redundancies across the company.Vice Media Group LLC is an American-Canadian digital media and broadcasting company. However, it failed to mount an enduring challenge to established media companies despite attracting significant investment from some of those same players, including Disney and 21st Century Fox. Vice began as a punk magazine in Montreal nearly three decades ago and expanded into areas including news and film and TV production. ![]() The company, whose assets include Vice News, Motherboard, Refinery29 and Vice TV, was once valued at nearly $6bn thanks to its attraction to millennial audiences. James Murdoch invested in Vice in 2019 through his holding company, Lupa Systems. However, a post-bankruptcy acquisition would wipe out investors including Murdoch, the son of the media tycoon Rupert Murdoch, and the private equity group TPG. It is understood that Fortress is planning to retain Vice’s senior management including a role for the company’s co-founder Shane Smith, if it succeeds in buying the company. Vice could file for Chapter 11 bankruptcy protection as soon as next week and run a court-supervised sale in which Fortress, the biggest senior lender to the business, will be in a strong position as a bidder. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |