Vice Media Group, the company behind popular media websites such as Vice and Motherboard, is preparing to file for bankruptcy, the New York Times reported on Monday, citing people with knowledge of its operations.
The report comes days after Vice shuttered its Vice News Tonight program, and amid waves of media layoffs and closures, including the end of BuzzFeed News.
Vice has received interest from five companies and might consider a sale to avoid bankruptcy, the Times report said, adding that in the event of a bankruptcy, which could happen in the coming weeks, Vices debt holder Fortress Investment Group could end up controlling the company.
The company is expected to continue operating normally in event of bankruptcy filing, the Times rep…
Read the full article at: https://www.theguardian.com/media/2023/may/01/vice-media-group-bankruptcy-report