Vice said it had agreed to the terms of an asset purchase agreement with a consortium of its lenders. Read more at straitstimes.com.
NEW YORK - Vice Media, once the darling of the digital news media world, said on Monday that it had filed for Chapter 11Millennial-focused Vice, known for its edgy news and lifestyle content, had been among the rising stars of a new breed of digital media firms but struggled as advertising revenues shrank.
“To facilitate the sale, Vice has filed voluntary petitions for reorganisation under Chapter 11 in the US Bankruptcy Court for the Southern District of New York,” it said in a statement. Vice Group said all of its media brands would continue to produce content despite the bankruptcy filing. “We look forward to completing the sale process in the next two to three months and charting a healthy and successful next chapter at Vice.”
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Vice Media files for bankruptcy protectionNEW YORK: Vice Media, once the darling of the digital news media world, said on Monday (May 15) it had filed for Chapter 11 bankruptcy protection to facilitate its sale. Millennial-focused Vice, known for its edgy news and lifestyle content, had been among the rising stars of a new breed of digital media f
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