Photo: courtesy of Democracy Now!
Vice Media has filed for bankruptcy less than a month after laying off over 100 employees across its global newsroom.
A group of company lenders, including Soros Fund Management, has submitted a bid of $225 million to purchase Vice’s assets, while remaining operations are expected to keep running.
The media company was once considered to be worth $5.7 billion. In April, Vice canceled its award-winning weekly show “Vice News Tonight” and shut down its international news unit, Vice World News.