VICE Sells to Funds of Soros, Fortress, and Monroe Capital
Posted on 08/01/2023
VICE Media Group has announced the completion of its US$ 350 million sale to a consortium of its former lenders which consists of funds managed by affiliates of Fortress Investment Group, Soros Fund Management, and Monroe Capital.
Bruce Dixon and Hozefa Lokhandwala, VICE’s Co-Chief Executive Officers said in a statement: “This marks the start of an exciting new chapter for VICE. With the support of our Investor Group, we now have the resources to strengthen our business, our partnerships and our content creation across all platforms. Under new ownership and with this leadership team, VICE is positioned to drive our uniquely differentiated brand of news, entertainment and lifestyle content that makes VICE a trusted brand for global audiences and a valued partner to brands, agencies and platforms.”
VICE went bankrupt after being valued as high as US$ 5.7 billion. Top management is expected to remain in place. VICE can be watched on TikTok and other outlets. It has shows on several networks and streamers, including Netflix. Vice has various divisions, including “Pulse Films, a London-based next-generation production studio with an office in Los Angeles and i-D, a digital and quarterly magazine defining fashion and contemporary culture and design.”
