Fortress and Soros Fund to Acquire Bankrupt Vice Media
Originally Published 2 years ago — by Hollywood Reporter
Fortress Investment Group, an existing lender of Vice Media, has been designated the winning bidder in the bankruptcy sale of the media company, after pledging $225 million. The sale is expected to be completed by July 7, pending court approval. Vice did not receive any other qualified bids before the deadline. The media company filed for Chapter 11 bankruptcy in May 2023, and has faced tough times in the advertising environment, leading to layoffs and the closure of its flagship TV news show.