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Vice Media

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business1 year ago

"Media Company Layoffs: Vice, Yahoo, and the Bleeding Dry"

Vice Media plans to lay off several hundred employees and cease publishing on its Vice.com website as part of a strategic shift following financial difficulties. The company, which filed for bankruptcy last year, is also looking to sell its Refinery 29 publishing business. This move reflects broader challenges in the media industry, with digital sites like BuzzFeed News and legacy outlets like the Los Angeles Times also facing job cuts. Vice's CEO cited the need to reposition the company for long-term success and emphasized a shift towards a studio model and greater emphasis on social channels for content distribution.

via New York Post |
#business#digital-media#financial-problems
business1 year ago

"Digital Media Giants Vice and Yahoo Make Major Layoffs, Signal Industry Shift"

Vice Media, once valued at $5.7 billion, is shutting down its Vice.com website and laying off several hundred employees as part of a strategic shift following its bankruptcy filing last year. The company, now valued at $350 million, is also looking to sell its Refinery 29 publishing business. This move reflects the ongoing financial challenges facing the media industry, with digital sites like BuzzFeed News and legacy media outlets like the Los Angeles Times also experiencing job cuts. CEO Bruce Dixon cited the need to reposition the company for long-term success and announced a shift towards a studio model and a greater emphasis on social channels for content distribution.

via Fortune|
#business#digital-media#financial-problems
media-and-business1 year ago

Vice Media to Close Website, Lay Off Hundreds

Vice Media, known for its edgy content, will cease publishing new content on its flagship website and lay off several hundred staff as part of a strategic shift to partner with other media companies. The move reflects the broader struggles of news outlets in the digital era, with traditional and digital media alike facing challenges in finding a viable business model. This comes amid a wave of job cuts in the industry, with Vice's rivals like BuzzFeed News and Jezebel shutting down last year, and layoffs announced at other major media outlets.

via Al Jazeera English|
#cost-cutting-measures#digital-media#layoffs
business1 year ago

Vice Media Halts Website Publishing, Cuts Hundreds of Jobs

Vice Media plans to cut hundreds of jobs and stop publishing on Vice.com as it shifts to partnering with established media companies for digital content distribution. The company, which filed for bankruptcy in the US and was bought by Fortress Investment Group, cited cost-effectiveness as the reason for the changes. This move comes amid a trend of job cuts in the media industry, with Vice continuing to sell the business and facing financial challenges despite its initial promise as a disruptive force in traditional media.

via BBC.com|
#bankruptcy#business#digital-content
business1 year ago

Vice Media Announces Layoffs and Closure of Vice.com

Vice Media plans to lay off several hundred employees and cease publishing on its Vice.com website, as part of a strategic shift following its bankruptcy and sale last year. The company, once valued at $5.7 billion, is also looking to sell its Refinery 29 publishing business. This move reflects the ongoing financial challenges in the media industry, with digital sites like BuzzFeed News and legacy outlets like the Los Angeles Times also facing job cuts.

via The Associated Press|
#business#digital-media#financial-problems
business1 year ago

Vice Ceases Website Publishing, Lays Off Hundreds

Vice Media is ceasing its website operations and focusing on its studio, resulting in the layoff of hundreds of employees. The company is also in the process of selling Refinery.com. The decision comes as Vice continues to grapple with financial struggles and seeks to realign its resources. CEO Bruce Dixon outlined the changes in a memo, expressing the need to adapt to the evolving business landscape and transition to a studio model, while also acknowledging the significant impact on affected employees.

via Business Insider|
#business#ceo-memo#digital-media
business1 year ago

Vice Media's Massive Layoffs and Website Shutdown Marks the End of an Era

Vice Media Group CEO Bruce Dixon has announced a major internal restructuring, including layoffs and the discontinuation of the digital publication Vice, as the company plans to transition to a studio model and partner with established media companies for content distribution. The CEO also indicated that Refinery29 may be sold in the near future, and affected employees will be notified about next steps soon.

via Rolling Stone|
#business#digital-publication#layoffs
business1 year ago

"Vice Media Announces Major Layoffs and Website Changes"

Vice Media plans to lay off hundreds of employees and cease publishing on Vice.com as it transitions to a "studio model". The decision comes less than a year after the company was rescued from bankruptcy. Reports of the layoffs have surfaced, with concerns about the potential closure of its news website. This move is part of a broader trend in the media industry, with major cuts at other outlets such as NowThis and the Intercept, as well as layoffs at Condé Nast and Vox Media.

via The Guardian|
#business#digital-publishing#layoffs
business1 year ago

Vice Media Faces Uncertain Future Amid Staff Cuts and Website Changes

Vice Media's CEO confirmed plans to lay off "several hundred" staffers and transition to a "studio model," ceasing content publication on vice.com and seeking to distribute digital content through partnerships with other media companies. The company's flagship news website's future remains uncertain following its sale to former bankruptcy lenders, with staff expressing concern and seeking clarity from management. The decision to restructure comes amid a tech update and financial challenges, as Vice Media aims to adapt its strategies for long-term competitiveness.

via Hollywood Reporter|
#business#digital-content#layoffs
entertainment2 years ago

"North West: From Magazine Covers to Career Aspirations, Fashion and More!"

Kim Kardashian's 10-year-old daughter, North West, has graced the cover of Vice Media's i-D magazine. In her interview, North revealed her love for performing and her aspirations to take over her parents' businesses, specifically Kim's shapewear line SKIMS and Kanye's fashion label Yeezy. She also expressed her admiration for her father's music and her desire to meet Tupac. North's favorite fashion show experience was her sister Chicago's closet fashion show, and she described basketball as a lifestyle and her most treasured activity. Kim and Kanye continue to co-parent their four children.

via Daily Mail|
#entertainment#i-d-magazine#kanye-west
business2 years ago

Fortress Investment Group to Acquire Bankrupt Vice Media for $350 Million

Vice Media, the digital media company once valued at over $5 billion, is set to be acquired out of bankruptcy by three investment companies, including Fortress Investment Group, for $350 million. The acquisition comes after Vice failed to receive any other satisfactory bids as it explored a sale for the company. The sale process allowed others to make a better bid, but Vice said that no such offers materialized. The acquisition agreement is the latest in a tumultuous period for Vice Media, which has faced various business difficulties and executive changes in recent years.

via CNN|
#acquisition#bankruptcy#business
business2 years ago

Fortress Investment Group to Acquire Bankrupt Vice Media for $350 Million

Fortress Investment Group and Soros Fund Management, along with other buyers, will purchase Vice Media out of bankruptcy for $350 million. The troubled media company had once been valued at nearly $6 billion. The bid is likely covered by their existing loans to Vice. Shane Smith, the co-founder, is expected to retain a role with the company but not as chief executive.

via The Daily Beast|
#acquisition#bankruptcy#business
business2 years ago

Fortress and Soros Fund to Acquire Bankrupt Vice Media

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.

via Hollywood Reporter|
#advertising-environment#bankruptcy-sale#business
business2 years ago

Fortress Investment-led consortium to acquire bankrupt Vice Media for $225 million.

A consortium led by Fortress Investment Group, Soros Fund Management, and Monroe Capital will acquire Vice Media out of Chapter 11 bankruptcy for $225 million. The bid was deemed the most qualified, and an auction scheduled for Thursday was canceled as no other offers were deemed superior. The deal could be approved by a judge at a hearing set for tomorrow, and Vice could emerge from Chapter 11 in July.

via Deadline|
#acquisition#business#chapter-11
business2 years ago

Fortress and Soros Fund to Acquire Bankrupt Vice Media

Fortress Investment Group, along with other lenders including Soros Fund Management and Monroe Capital, has reportedly bid $225 million to acquire Vice Media out of bankruptcy. Vice, which filed for bankruptcy on May 15, was once looked at as a crown jewel in the fast-paced digital media sector. The bankruptcy filing revealed the company had assets and liabilities between $500 million and $1 billion. The news comes amid continued upheaval in the media sector as companies from BuzzFeed to Insider grapple with high costs, layoffs, and declining valuations.

via Yahoo Finance|
#acquisition#bankruptcy#business