Once valued at nearly $6 billion, Vice files for bankruptcy
, the youth-targeted media brand cofounded by Shane Smith in Montreal nearly 30 years ago, filed for Chapter 11 bankruptcy on Monday in the Southern District of New York, listing assets and liabilities in the range of $500 million to $1 billion.
Under the terms of a new agreement, the lenders, Fortress Investment Group, Soros Fund Management, and Monroe Capital have agreed to make a $225 million credit bid for the company's assets plus its liabilities. Meanwhile the lenders have agreed to a $20 million cash infusion to keep the business running, the company said on Monday. However, during this time the company can receive other bids.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Vice Media, once a digital media darling, is bankruptVice Media, once a digital video upstart formerly valued at nearly $6 billion, has filed for bankruptcy protection.
Leer más »
Vice Media files for Chapter 11 bankruptcy, the latest in a string of digital media setbacksVice Media is filing for Chapter 11 bankruptcy protection, the latest digital media company to falter after a meteoric rise. Vice has agreed to sell its assets to a consortium of lenders in exchange for $225 million in credit. Other parties will also be able to submit bids. The bankruptcy filing arrives just weeks after the company announced it would cancel its flagship “Vice News Tonight” program amid a wave of layoffs. The company also said it would end its Vice World News brand, making Vice News its only brand worldwide.
Leer más »
Vice Media Group files for Chapter 11 protection to facilitate saleVice Media Group, the company popularly known for its websites such as Vice and Motherboard, said on Monday it had filed for Chapter 11 protection to facilitate its sale.
Leer más »
Vice Media Files for Bankruptcy (Report)The company, once valued at $5.7 billion, has struggled with debts and shrinking ad revenue in recent years.
Leer más »
Vice Media Group files for Chapter 11 protection to facilitate saleThe company said in a court filing that it listed both assets and liabilities in the range of $500 million to $1 billion.
Leer más »
Vice Media Formally Files for Chapter 11 BankruptcyStruggling media company Vice Media Group, said on Monday it had filed for Chapter 11 protection to facilitate its sale. The company said in a court filing that it listed both assets and liabilitie…
Leer más »