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, which was previously estimated to be worth billions of dollars, needed help from a group led by George Soros to avoid bankruptcy last year.

According to Bloomberg, as the so...