Vice Media Group, having undergone bankruptcy, has completed its sale to a consortium of previous lenders including Fortress Investment Group, Soros Fund Management, and Monroe Capital. The transaction, setting Vice Media's worth at $350 million, is a drastic reduction from the $5.7 billion valuation in 2017.
Co-CEOs Bruce Dixon and Hozefa Lokhandwala expressed enthusiasm for the new chapter, stating that with investor backing, the firm now has the means to fortify its business and content creation.
Vice Media Group operates five main units including Vice.com, Vice Studios, Vice TV, Vice News, and creative agency Virtue. It also oversees other brands like Refinery29, Pulse Films, and i-D.