From 2019:
Just a few years ago, big media companies were falling over themselves to bet on Vice Media. Disney made the biggest bet, by putting more than $400 million into the swashbuckling digital publisher.
Now, Disney says all of the money it put into Vice has been incinerated: In investor filings Wednesday, Disney said it no longer thinks it will ever get any return on the investment it made in Vice — a company that at one point was supposedly worth $5.7 billion.
Vice is still worth something, in some investors’ eyes. Last week, a group of lenders said they put a fresh round of $250 million into the company.
And now…
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…
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