In its heyday it was known for publishing some radical, youth-focussed content that captured the hearts and minds of a certain type of audience. Today, the dream may have run its course. According to media reports, Vice could soon be filing for bankruptcy.
The firm once valued at nearly $6bn could pull the popular Vice News Tonight – it’s flagship youth-focussed programming strand which could result in about 100 jobs being lost.
Few companies could be in the race to take over Vice, according to the New York Times. But it also reported that, “The chances of that, however, are growing increasingly slim, said one of the people with knowledge of the potential bankruptcy.”
One possibility, according to another media report is that Vice’s debtholder Fortress Investment Group could end up controlling the company.
“Vice Media Group has been engaged in a comprehensive evaluation of strategic alternatives and planning. The company, its board and stakeholders continue to be focused on finding the best path for the company,” the company spokesperson told Reuters in an emailed statement.