Canadian Publishing Industry News
11 May 2023,     NEW YORK
Vice Media bought out of bankruptcy
 According to various media reports, Vice Media is being bought out of bankruptcy by a group of investors that includes billionaire George Soros for about US$400 million.  The buyers include the Soros Fund Management and Fortress Investment Group.

            The company had been preparing for bankruptcy over the last year. Earlier this year its CEO left the company and two recently the company said it would close Vice World News.
            The purchase has led to speculation that the buyers are poised to bring Vice Media co-founder Shane Smith back to the company in an as-yet undefined role. Smith oversaw Vice Media in its heyday when it was valued at US$5.7 billion.
            Included in the purchase are Vice Studios film and TV production unit, Vice TV, and creative agency Virtual. The company also owns Refinery29, London-based Pulse Films and i-D.



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