Vice Media declares Chapter 11 bankruptcy

Mint Message

Vice Media Group has not been doing so well recently. The company has now filed for Chapter 11 bankruptcy early Monday morning of this week. This is a significant fall from grace for a modern media company and this comes from a business that was once considered to be one of the most valued media startups in the internet era. In fact, six years ago was the peak for Vice Media when Vice was valued at a massive five billion seven hundred million United States dollars – a net worth that is hard for most average Joes to even comprehend with how grand it is.

However, this has all changed for Vice Media in the past years. While the media company was once seen as a great billion-dollar investment, the people now running Vice has had a hard time getting bidders that are willing to pay nine figures for ownership of the company. Moreover, the company has now had to sell itself off for parts. The firm owns a whole bunch of different businesses and assets that it can sell off for parts to help weather through the bankruptcy.

For example, there is a female-focused digital brand that Vice Media Group acquired for four hundred million US Dollars back in 2019 that might be able to be sold for a decent amount. Vice also has an in-house marketing agency known as Virtue and a fashion platform known as I-D & Vice Studios – a video production arm – could also be given away to anyone willing to purchase it.

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