🤑 Vice Media Bought Out by Fortress Investment Group? Will Vice Get its Mojo Back? 💰🚀
TL;DR:
Hipster media giant Vice Media, home to Vice News, Motherboard, Refinery29, and Vice TV, is reportedly getting bought out by Fortress Investment Group. This comes in the wake of the media company filing for bankruptcy just a month ago. Bids were flowing in, but Fortress supposedly outshone the rest. Will this corporate knight in shining armor save Vice from its financial distress, or is this just the start of another twisted media tale? 🏰💵📺
Hold on to your bucket hats, hipsters! Vice Media, the millennial news outlet that’s given us edge-of-your-seat documentaries and a fresh spin on news, might soon be singing a different tune. Fortress Investment Group, an investment firm with a track record as impressive as the beard on your local barista, is reportedly buying out Vice, fresh off its trip to bankruptcy court. 💼🧔🏽♂️
Not long ago, Vice was wading through the quicksand of financial trouble, filing for bankruptcy just last month. With its wallet thinning faster than hair on a balding man’s head, Vice was on the lookout for a financial lifeline. 💸👀
Enter the Fortress knights in business suits. Their bid was deemed the most “qualified” by Vice’s standards. Now, you might be thinking, ‘What does that even mean?’ Well, in the mystical land of corporate bankruptcy, deals need the approval of a bankruptcy judge, who decides if the proposed plan is “sustainable for the business.” So, let’s hope Fortress’ plan isn’t a one-hit wonder. 🕴️⚖️
Originally, there was an auction set for Vice’s assets on Thursday, but someone must’ve hit the snooze button, because it’s been cancelled. 🛎️😴
We’ve learned that GoDigital, a privately held multinational group that owns NGLmitú, Cinq Music, and more, was also sniffing around Vice. But, like a bad first date, things just didn’t work out. GoDigital apparently had plans for “rejuvenation, growth, and expansion” for Vice, but it seems the two couldn’t agree on who picks up the tab, so to speak. 🌍🎵
An email from Vice co-CEOs Bruce Dixon and Hozefa Lokhandwala indicated a successful bidder, but they’ve kept us on the edge of our bean bag chairs by not disclosing the “superior” bidder. They do expect the transaction to close around July 7th, so maybe they’re trying to make Vice’s independence day? 🎆
With Vice in financial rehab, unions and members of the company are looking forward to working with Fortress. But, they’ve also called out Fortress, Soros Fund Management, and Monroe Capital to donate to a GoFundMe to help laid-off Vice colleagues. Now that’s what we call solidarity! ✊🏼
Vice’s comment on the situation? Total radio silence. But, hey, maybe they’re just building the suspense. 📻🤫
So, what’s next for Vice? Will Fortress Investment Group provide the financial solvency Vice needs to bounce back? Or, are we looking at another corporate fairytale with a twist? How do you think this will impact the unique content and journalism that Vice has been known for? Will the hipster media powerhouse rise again, or are we about to witness the downfall of another media titan? 🤔
And more importantly, in this world of
