Close Menu
CryptoHoppers.comCryptoHoppers.com
    What's Hot

    Flare integrates its APIs on Google Cloud Marketplace

    May 22, 2023

    Long Consolidation Period Looming for Crypto As Markets Have Already Used Up All the Juice, Says Analyst

    January 9, 2024

    TRON founder Justin Sun wins landmark case in the People’s Court of China

    June 27, 2024
    Facebook X (Twitter) Instagram
    • Privacy Policy
    • Get In Touch
    Facebook X (Twitter) Instagram
    CryptoHoppers.comCryptoHoppers.com
    • News

      Bitcoin At $230,000, XRP At $9, And Dogecoin Price To $2.5? Analyst Unveils Q4 Targets

      August 22, 2025

      Chainlink price builds strength above key levels as bulls target $33.75

      August 20, 2025

      Behind Strategy’s mNAV Debate: Leverage, Risk, and Bitcoin

      August 19, 2025

      Ethereum 4-Week Trend Shows When It Is Time To Sell Everything

      August 18, 2025

      ADA and DOGE To Gain From ETF Hype, RTX Nears CEX Reval

      August 17, 2025
    • Technology

      Why liquid restaking derivatives could be the hottest trade of 2025

      August 22, 2025

      Block Street brings $10m liquidity push for tokenized stocks on BNB Chain

      August 21, 2025

      Tether Pulls Ex-White House Crypto Chief Into U.S. Expansion Play

      August 19, 2025

      Pi Network token price stalls, but charts hint at breakout

      August 17, 2025

      SEC Chair Atkins Moves to Regulate Blockchain Without Congress: Crypto Adoption Could Accelerate

      August 15, 2025
    • Learn/Guide

      Mobilum: The All-in-One Bitcoin Banking App Bridging Crypto & Traditional Finance

      August 22, 2025

      Coinbase adds World Liberty Financial’s USD1 stablecoin to listing roadmap

      August 21, 2025

      Thetanuts Finance: Pioneering Decentralized Altcoin Options Across Global Markets

      August 20, 2025

      TRON to be natively integrated into MetaMask, unlocking global access to TRON assets

      August 19, 2025

      From Crowdsourcing to Blockchain: How HUMAN Protocol is Fixing the Gig Economy

      August 18, 2025
    • NFTs

      Slimesunday’s Magnum Opus: ‘Banned from New York’ Blows the Lid Off Digital Censorship | NFT CULTURE | NFT News | Web3 Culture

      July 22, 2025

      1mouth Analog: miirror’s Raw Leap from Digital to Handmade Chaos | NFT CULTURE | NFT News | Web3 Culture

      May 9, 2025

      NFTCulture Expands Into TCGs with Cardcore.xyz: Where Digital Collectibles Meet Competitive Play | NFT CULTURE | NFT News | Web3 Culture

      May 8, 2025

      From Moonshots to Broken Links: The Rise and Fall of CloneX | NFT CULTURE | NFT News | Web3 Culture

      April 24, 2025

      Pacific Spirit: Vinyl Meets Code in a Groundbreaking Generative Drop on Art Blocks | NFT CULTURE | NFT News | Web3 Culture

      April 16, 2025
    • Regulation

      CFTC’s Caroline Pham Launches Next Crypto Sprint to Shape U.S. Digital Asset Trading

      August 22, 2025

      Judge Frees $57M in Libra Stablecoins, Token Price Soars Nearly 400%

      August 21, 2025

      Expert Warns U.S. Treasury Secretary Bessent May ‘Destroy’ Stablecoins, Here’s Why

      August 20, 2025

      Ripple and SEC End 5-Year XRP Lawsuit Battle With Surprise Court Move

      August 8, 2025

      SEC Drops Binance Lawsuit: How Regulatory Clarity Could Spark a BNB Price Rally

      May 30, 2025
    • Business

      Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

      November 17, 2024

      Leading Eastern European Exchange Exmo Sells Business in Russia, Belarus

      November 16, 2024

      Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

      November 15, 2024

      Bitcoin Mining Company Mara Holdings Now Holds 26,747 Bitcoin: Q3 Earnings Report Reveals

      November 14, 2024

      Brazil Prepares to Let Tradfi Institutions Embrace Crypto

      November 13, 2024
    • Live Pricing
    CryptoHoppers.comCryptoHoppers.com
    Home » Vice Media Files for Chapter 11 Bankruptcy
    Regulation

    Vice Media Files for Chapter 11 Bankruptcy

    May 15, 20233 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Vice Media Files for Chapter 11 Bankruptcy
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Before this announcement, Vice Media had begun to restructure its global organizational workforce.

    American-Canadian digital media company Vice Media Group has filed for Chapter 11 bankruptcy after several years of financial struggle. The company, which was valued at $5.7 billion in 2017, is currently worth less than $1 billion. Top executives of the media giant have failed to give any detailed evaluation of the company’s net worth.

    Vice Media’s lenders are planning to take on administrative control of the company through necessary filings. These lenders include Fortress Investment, Soros Fund Management, and Monroe Capital. About five companies have previously shown interest in purchasing the media company.

    Vice Media Bankruptcy Filings

    Vice Media has completed filing for Chapter 11 bankruptcy with the US Bankruptcy Court for the Southern District of New York. After the approval of the application, interested parties can bid for the company. The inclusion of credit bids will allow the new administrators to swap secured debt for company assets instead of paying in cash. Notably, the consortium’s bid includes a commitment fee of $20 million in cash to cater to the company’s daily activities throughout the sale process. The sale process is expected to last for 2-3 months.

    The bankruptcy filing covers Vice Media’s multi-platform media brands like Vice News, Vice TV, Pulse Films, Virtue, Refinery29, and i-D. It does not include Vice’s international entities and Vice TV’s joint venture with A&E.

    During a short interview with Vice Co-CEOs, Bruce Dixon and Hozefa Lokhandwala, it was mentioned that the sale process would enhance the company’s affairs and prepare it for long-term growth.

    They said:

    “We will have new ownership, a simplified capital structure, and the ability to operate without the legacy liabilities that have been burdening our business.”

    Vice Media’s Restructuring

    Before this announcement, Vice Media had begun to restructure its global organizational workforce. Over the last few months, Vice Media has laid off many workers to slim down their cost of production.

    According to the media company, any group intending to purchase her assets will provide $225 million in the form of a credit bid. The fees will also cover some of Vice’s significant liabilities.

    Vice Media is not the only digital company forced to restructure its organization due to bankruptcy. Buzz Feed (NASDAQ: BZFD), a global media and technology company, has shut down its news broadcast division and laid off a larger number of its workers. Generally, the low revenue generation in the media space is caused by the sluggish economy and weak advertising market.

    Vice began its journey as a magazine that addresses youth-related issues and invariably gained an outstanding presence on social media. The then-thriving company is filing for bankruptcy, which was indirectly caused by the spike in online advertisement championed by Google and Meta. Last year, the media company fell below its targeted revenue mark by more than $100 million.

    Read other business news on Coinspeaker.

    next

    Business News, Market News, News


    Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience.
    Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

    Thank you!

    You have successfully joined our subscriber list.

    Subscribe to our telegram channel.
    Join



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    CFTC’s Caroline Pham Launches Next Crypto Sprint to Shape U.S. Digital Asset Trading

    August 22, 2025

    Judge Frees $57M in Libra Stablecoins, Token Price Soars Nearly 400%

    August 21, 2025

    Expert Warns U.S. Treasury Secretary Bessent May ‘Destroy’ Stablecoins, Here’s Why

    August 20, 2025

    Ripple and SEC End 5-Year XRP Lawsuit Battle With Surprise Court Move

    August 8, 2025
    Top Posts

    Here’s Why The Bitcoin Price Crashed Below $58,000

    July 6, 2024

    Vitalik Buterin bats for Plasma scaling solution

    November 18, 2023

    Memecoin announces a viral tattoo challenge

    June 18, 2024

    Welcome to CryptoHoppers.com! Stay informed with the latest updates, trends, and insights from the dynamic world of cryptocurrencies. From Bitcoin to altcoins, blockchain technology to decentralized finance (DeFi), we cover it all. Discover expert analysis, market trends, regulatory developments, and exciting innovations shaping the crypto industry.

    Top Insights

    Bitcoin At $230,000, XRP At $9, And Dogecoin Price To $2.5? Analyst Unveils Q4 Targets

    August 22, 2025

    Chainlink price builds strength above key levels as bulls target $33.75

    August 20, 2025

    Behind Strategy’s mNAV Debate: Leverage, Risk, and Bitcoin

    August 19, 2025
    Advertisement
    Demo
    CryptoHoppers.com
    Facebook X (Twitter) Instagram
    • News
    • Technology
    • Learn/Guide
    • Regulation
    • NFTs
    • Business
    • Live Pricing
    © 2025. Designed by CryptoHoppers.com.

    Type above and press Enter to search. Press Esc to cancel.