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 buyer, according to reports.
It comes after a tumultuous start to the year for the company, which saw Nancy Dubuc exit after five years, replaced by Bruce Dixon and Hozefa Lokhandwala, as well as the departure of Global President of News & Entertainment Jesse Angelo to launch his own production company.
Last week, the company underwent the latest in a series of layoffs, streamlining its news division and canceling its signature show in Vice News Tonight.
In its first-quarter earnings report on Wednesday, Meta revealed that Zuckerberg’s Metaverse has taken a $4 billion loss.