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UPCOMING EVENTS

Report: Vice Media Restarting Its Sale Process

CNBC reported on Thursday, citing people familiar with the situation, that Vice Media is restarting its sale procedure after interested bidders balked at the initial price tag. 

Additionally, Fortress, one of Vice’s lenders, has become one of the heads in the sale approach as it looks to get paid out. Vice, reportedly valued at $5.7 billion in 2017, is likely to fetch a price below $1 billion. Vice initially sought a valuation between $1 billion and $1.5 billion.

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Vice has reduced its expectations in hopes of getting an agreement done and ensuring a payout sooner rather than later. 

“The company had been nearing a deal with Greek broadcaster Antenna Group, but those talks stalled in recent weeks,” CNBC wrote. “Antenna is still likely to be an interested bidder in the renewed sale process.”

Vice concluded 2022 with a slight increase in revenue, but the company deteriorated under macroeconomic headwinds. While the media outlet was unprofitable last year, some of its branches did post earnings, and Vice has been intermittently profitable in recent years. 

Eduardo Razo
Eduardo Razohttps://barrettmedia.com
Eduardo Razo is the Assistant Content Editor for BNM, which includes writing daily news stories on the news media industry. He can be found on Twitter @eddierazo_ or you can reach him by email at [email protected].

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