Quantcast

Vice Media has filed for bankruptcy triggering the fall of one of the digital era’s greats

Vice Media once a powerhouse player in media has fallen. On Monday, it was formally announced by the company that it has filed for bankruptcy protection. It is an extraordinary fall from grace for a company once valued somewhere north of $5.7B.

According to The New York Times, a group of lenders has already stepped forward with interest in the company. The price tag on the proposal is understood to be around $225m. Unfortunately for Vice, now having filed for bankruptcy means that years and heavy investments later from the likes of Disney and betrothed Rupert Murdoch are now almost entirely worthless.

Vice now joins other outlets including another digital era power player [Buzzfeed Bews] which recently shut down entirely.

Leave a Reply

Discover more from Bazaar Daily News

Subscribe now to keep reading and get access to the full archive.

Continue reading

Verified by MonsterInsights