VICE shuts down its website, laying off ‘hundreds’ of staff, and will “transition to a studio model” as part of “fundamental changes to our strategic vision.” Vice.com’s CEO made the announcement late on Thursday that the company had stopped creating new content and fired several hundred staff members. The outlet,
Vice’s Chief Restructuring Officer, Frank Pometti, stated that Wipro may have played a part in Vice’s bankruptcy as they owed $9.9 million. This owed amount came after Wipro initiated arbitration proceedings against Vice Media in May 2020, which were connected to the termination of an agreement. Indian IT major Wipro
According to The Wall Street Journal, George Soros is planning to buy bankrupt Vice Media at a valuation of around $400 million. Vice Media, which once had a valuation of $5.7 billion, went woke and is now broke, is set to be acquired out of bankruptcy at a valuation of
According to reports, Vice Media is preparing to file for bankruptcy after struggling to find a buyer. Vice Media Group, the swashbuckling, youth-skewing digital media brand, is preparing to file for bankruptcy. The company, which was valued at $5.7 billion in 2017, is considering the move after struggling to find a
