– Vice, the brash digital-media disrupter that charmed giants like Disney and Fox into investing before a stunning crash-landing, is preparing to file for bankruptcy, according to two people with knowledge of its operations, according to the New York Times.
The filing could come in the coming weeks, according to three people familiar with the matter who weren’t authorized to discuss the potential bankruptcy on the record.
The company has been looking for a buyer, and still might find one, to avoid declaring bankruptcy. More than five companies have expressed interest in acquiring Vice, according to a person briefed on the discussions. The chances of that, however, are growing increasingly slim, said one of the people with knowledge of the potential bankruptcy.
A bankruptcy filing would be a bleak coda to the tumultuous story of Vice, a new-media interloper that sought to supplant the media establishment before persuading it to invest hundreds of millions of dollars. In 2017, after a funding round from the private-equity firm TPG, Vice was worth $5.7 billion. But today, by most accounts, it’s worth a tiny fraction of that.
Breaking News: Vice, the brash digital-media disrupter that has struggled to find a buyer, is preparing to file for bankruptcy, according to two people. https://t.co/Ydz7ofzIpy
— The New York Times (@nytimes) May 1, 2023
– Impact Wrestling announced on social media….
I am SO STOKED to join the @IMPACTWRESTLING broadcast team and work alongside all my new amazing and super talented peers.
IMPACT Faithfuls, you are the best fans to be around and I cannot wait to chat and have some more fun at our live events!!
Thank you for the love 🥹 https://t.co/bifXcyYBM0
— Jade Chung (@JadeChung11) May 2, 2023