Vice Media Files For Chapter 11 Bankruptcy
May 15, 2023 9:43AM PDT
NEW YORK (AP) — Vice Media is filing for Chapter 11 bankruptcy protection, the latest digital media company to falter after a meteoric rise.
Vice has agreed to sell its assets to a consortium of lenders in exchange for $225 million in credit.
Other parties will also be able to submit bids.
The bankruptcy filing arrives just weeks after the company announced it would cancel its flagship “Vice News Tonight” program amid a wave of layoffs.
The company also said it would end its Vice World News brand, making Vice News its only brand worldwide.