Canadian Publishing Industry News
6 March 2023,     TORONTO
Vice Media on verge of bankruptcy, reports
Several publications are speculating that Vice Media is on the verge of bankruptcy.

            After trying to find a buyer for more than a year, the Canadian-founded company has reportedly brought in a restructuring expert to its board to guide it through bankruptcy procedures.

            There is likelihood Vice Media could be broken up and sold in pieces. A previously retained restructuring firm is now suing Vice to recover $1 million, according to the New York Post. Last month, the Wall Street Journal revealed Vice hasn’t paid its bills, including $1 million in debt to various vendors. Recently CEO Nancy Dubuc departed her role, and global president of news & entertainment, Jesse Angelo, also left.

            At its peak Vice Media was valued at $5.7 billion.

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Jaded says:
Wow, Torstar really seems to be on a mission to bankrupt one magazine after another....
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Lorene Shyba says:
Full of terrific information, Thanks!...
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