Vice Media Group Preps $400 Million Sale To George Soros and Fortress
The bankruptcy and sale would “wipe out” most of Vice’s other shareholders, including TPG Group and James Murdoch (who invested in the company via his Lupa Systems investment firm), per the Journal report. Vice has been unable to pay many of its vendors and recently secured a $30 million “lifeline” from Fortress, the Journal previously reported. Last week, the New York Times reported that Vice Media was preparing for bankruptcy after being unable to find a buyer. It announced a series of layoffs and said it was pulling the plug on “Vice News Tonight.”
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