12/15/2023 0 Comments Vice media marines![]() In recent years, Vice Media has failed to live up to the lofty expectations that it - and the industry - set for the company, which was once valued at more than $5 billion. The acquisition agreement is the latest in a tumultuous period for Vice Media, which was once held up as the future of the business. Vice will ask a bankruptcy court on Friday to approve the deal. “Under new ownership,” Dixon and Lokhandwala added, “we look forward to a new chapter in VMG’s history, with a renewed focus and commitment to creating world-class content for our audiences and partners.” “It still hasn’t been finalized by the court, but once it is, it will mark an important milestone on the road to long-term financial health and stability for VMG.” ![]() “We are providing you with this update in real-time to let you know the Company’s intention to move forward with this sale,” Dixon and Lokhandwala wrote in the memo. The acquisition of the one-time media powerhouse by its three creditors - made up of Fortress, Soros Fund Management and Monroe Capital - is set to take place after Vice said in a legal filing Thursday that it received no other satisfactory bids as it explored a sale for the company.īruce Dixon and Hozefa Lokhandwala, co-chief executives of Vice Media Group, informed staff of the decision in a memo Thursday morning. ![]() Vice Media, the once-high flying digital media company valued at billions of dollars, is set to be acquired out of bankruptcy by three investment companies, including Fortress Investment Group, for $350 million.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |