May 6, 2022 · less than 3 min read
Facing debts of over $1 billion, VICE Media Group is looking to sell itself on.
A change in the wind
With its debts spiraling and no immediate financial relief on offer, the once multi-billion-dollar VICE Media Group is looking to potentially sell itself off. At its peak, the group was valued at $5.7 billion, but with a mounting debt pile and a market that appears to be slowing, it’s exploring sale options – and we all know what that means.
For now, hired financial advisors are unpacking what a sale could look like before any big decisions are made. At the moment, it’s believed that the preferred option would be a complete sale of all of VICE’s digital assets, including its state-of-the-art TV studio. But who’s buying?
On the books
Many people will recognize VICE from its studio operations and online media channels. For years, it’s been a lucrative lure for media firms around the world, from large businesses like Disney to smaller, private investors. But this one-time media starlet has seen better days.
And it’s by no means the only online digital media firm that’s had to take drastic maneuvers. BuzzFeed and Vox Media have both had to consolidate assets in recent years, leading some to wonder whether or not they could be in a position to take VICE into their own publishing houses.
So far there’s been a smattering of interest from potential buyers, but exactly what the valuation could be, and whether it will be a wholesale buy or a smaller acquisition, remains to be seen.
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