Vice Media Prepares to File for Bankruptcy

Vice Media is preparing to file for bankruptcy as it struggles to find growth and a buyer for its business, marking a fall from grace for the once-hot media startup valued at $5.7bn at its peak.

May 2, 2023 . 1:00 AM

1 min read

Vice Media is preparing to file for bankruptcy, a major fall from grace for a once-hot media startup valued at $5.7bn at its peak.
The company has struggled for years to find growth and has been looking to sell itself, but a deal hasn’t materialized.
Following a bankruptcy filing, Vice would seek to sell itself through a court-supervised sale process in bankruptcy.
Vice’s downfall is emblematic of the tough times that new media companies that raised money at sky-high valuations have had.
Fortress Investment Group, as the largest senior lender to Vice, could take control after Vice exits bankruptcy, unless a white-knight buyer emerges.