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Vice Media begins new chapter after bankruptcy deal

Published

12 months ago

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Vice Media, once valued at nearly $6 billion, has been sold to a consortium of former lenders, including a fund linked to George Soros, for $350 million.

The media company, co-founded by Shane Smith, filed for Chapter 11 bankruptcy protection in May after facing financial difficulties.

Despite multiple offers for the insolvent firm, a bankruptcy court judge in New York ruled in favor of the group of lenders, which also includes Fortress Investment Group and Monroe Capital.

Vice Media’s value plummeted from $5.7 billion in 2017 under Smith’s leadership to a fire-sale price of $350 million.

The company underwent leadership changes, with Nancy Dubuc taking over as CEO in 2018 to address reports of a toxic culture.

However, she left the firm earlier this year.

The deal is seen as the beginning of a new chapter for Vice Media, as it aims to rebuild under its current co-CEOs, Bruce Dixon, and Hozefa Lokhandwala.

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Warner Brothers & Discovery considers splitting up to boost stock value

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1 week ago

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July 19, 2024

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Investors worldwide grow increasingly optimistic about Trump winning the election

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1 week ago

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July 18, 2024

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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1 week ago

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July 18, 2024

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

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