VICE media files for Chapter 11 bankruptcy
VICE media has officially filed for Chapter 11 bankruptcy.
The move, filed at the Bankruptcy Court for the Southern District of New York, is part of a plan to engineer a sale to a group of lenders.
As expected, the company’s biggest creditor, Fortress Investment Group, will make up part of a new ownership. Also including Soros Fund Management and Monroe Capital, the lending consortium will invest around $225M as a credit bid for almost all of the company’s assets. The trio will also assume significant liabilities at closing.
I got my BIG bag-o-popcorn ready for the next round of DB, Luke and WrestleFan comments!!!!!!
Not me. The only thing I care about here is the future of the Husney & Eisener docs. I don’t give a crap about Vice one way or the other. On the other hand, if someone were to say something stupid again…
The thing is, I believe it was DB that started that whole situation by stupidly bringing politics into it. If he had simply kept his mouth shut & his opinions to himself, things wouldn’t have played out the way they did.
@art123guy No fireworks. You can relive the fun at https://www.gerweck.net/2023/05/02/impact-hires-a-new-announcer-vice-could-file-for-bankruptcy.
However, I now do get a chuckle out of the peanut gallery duo coping with the news. It’s banality a wonder to behold.
This archived article from Zerohedge will provide a little more context for the story.
“peanut gallery duo coping with the news”
Kind sir, please clarify. I’m guessing the duo would be WrestleFan and myself and I’m ever so curious as to what we have in common. And before you say that you’ve already made everything obvious or something along those lines, please consider the fact that English isn’t my first language. Perhaps that’s where the communication problem comes from, perhaps that’s why I’m a little too slow for you.
Art, break out the popcorn.
@Luke–Just saw your comment…I’m off to the kitchen now!