Vice Media Group has announced the completion of its post-bankruptcy sale, in a deal valuing the once-high-flying media company at $350 million.
Vice Media filed, after months of struggling to pay its bills. It’s a fire sale for the company, which in 2017 had boasted a valuation of $5.7 billion.
The bankruptcy and sale was set to “wipe out” the value of most of Vice’s other shareholders, including private-equity firm TPG Group and James Murdoch , the Wall Street Journal previously reported. “With the support of our investor group, we now have the resources to strengthen our business, our partnerships and our content creation across all platforms,” Bruce Dixon and Hozefa Lokhandwala, Vice’s co-CEOs, said in a statement. “Under new ownership and with this leadership team, Vice is positioned to drive our uniquely differentiated brand of news, entertainment and lifestyle content that makes Vice a trusted brand for global audiences and a valued partner to brands, agencies and platforms.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Subscribe to Autocar | Haymarket Media GroupUnwind this summer with an Autocar subscription ☀️ Grab 13 issues for just £34.99 today:
Read more »
California man linked to white supremacist group arrested on drug and ammunition chargesA Southern California man who authorities say is affiliated with a violent white supremacist group was arrested on meth and ammunition charges Thursday, prosecutors say.
Read more »
BTS Jungkook talks about chapter 6 of the group's career with SUGA | allkpopBTS Jungkook talked about the group's future with SUGA. On July 29th, fellow BTS member Jungkook made a guest appearance on the 15th&nb…
Read more »
Volkswagen Group Increased Global BEV Sales In Q2 2023 By 53%In Q2 2023, Volkswagen Group's all-electric vehicle sales amounted to about 180,600 (up 53% year-over-year), which was 7.7%.
Read more »
Group of domestic violence survivors helped by non-profit graduate from special programSaturday was a special day for a group of survivors, former victims of domestic violence and abuse.
Read more »
Austin FC Crashes Out of Leagues Cup in Group StageA struggling AustinFC has three weeks to regroup before MLS play resumes.
Read more »