A statement released by the company on Monday says a consortium including Fortress Investment Group, Vice’s main creditor, has offered to take control of the media group for $225 million unless a superior offer is made. made by other parties.
Vice Media Group, valued at $5.7 billion in 2017, produces content in 25 languages and has more than 30 offices around the world.
The media group, which can be consulted free of charge, relies in particular on advertising to collect its income.
But with the deterioration of the economic situation, the advertising market has mainly shifted towards tech giants such as Google and Meta.
The press release specifies that Vice will continue its activities throughout the duration of the process following its bankruptcy.
In the early 2000s, Vice launched a new generation of digital media, such as Buzzfeed and the Huffington Post.
The media, whose content is available for free, is the most confronted with a difficult economic situation, which has prompted many of its main media to submit their resignations, starting with the public broadcaster “NRB” and ending with the ” Washington Post” and “CN”.
In late April, BuzzFeed announced it was shutting down the BuzzFeed News website and laying off 180 employees.
Read the Latest World News Today on The Eastern Herald.
