Media Company Vice, Once Worth $1.7 Billion, File For Bankrupty

Source: HollyWoodUnlocked 

 Vice Media, the innovative media company known for its cutting-edge visuals and storytelling, recently filed for Chapter 11 bankruptcy. While this news may seem concerning to some, Vice has secured a solution that will help them emerge from this financial difficulty stronger than ever before.

According to reports, Vice plans to sell their assets to a group of lenders for $225 million in credit. The lenders are comprised of several prominent companies, including Fortress Investment Group, Soros Fund Management, and Monroe Capital. Furthermore, Vice is opening up the opportunity for other parties to submit their own bids as well.

In a statement released by the company's Co-CEOs, Bruce Dixon and Hozefa Lokhandwala, it was made clear that this process was designed to "strengthen the company and position Vice for long-term growth." They also expressed optimism that this strategic move will help them chart a healthy and successful new chapter at Vice.

While this news may seem concerning for Vice's fans and employees, the company's leadership has made it clear that they are prepared to take the necessary steps to ensure their continued success. With this focused and strategic approach, Vice is poised to emerge from this situation as a stronger and more successful company than ever before.