Vice Preps Bankruptcy Filing and $400 Million Sale, Less Than 10% of Its Peak Valuation (Report)
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variety.comTodd Spangler NY Digital Editor Struggling media company Vice Media Group is gearing up to file for Chapter 11 bankruptcy protection — and then sell itself to some of its backers for about $400 million, according to a new report.
The Brooklyn-based company post-bankruptcy arrangement to sell to investors including Fortress Investment Group and Soros Fund Management would value it at $400 million, the Wall Street Journal reported.
That would be less than 10% of its once high-flying $5.7 billion valuation back in 2017. The New York Times last week reported that Vice was prepping a bankruptcy filing.
A spokesman for Vice Media declined to comment. Representatives for Fortress and Soros Fund Management did not respond to requests for comment.
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