Vice Media filed for bankruptcy and filed for Chapter 11 protection to facilitate its sale
Photo: Shutterstock / Shutterstock
The American-Canadian broadcasting and digital media company, Vice Media filed for bankruptcy on Monday appealing Chapter 11 to facilitate its sale, after the company made cuts in recent weeks, with more than 100 layoffs and the end of his popular show "Vice News Tonight"
Vice, which was founded in 1994 in Montreal, Canada and initially functioned as a free magazine focused on alternative music and culture, announced that until now it will continue to "operate normally" while the bankruptcy process progressessaid.
In its beginnings, Vice was backed by large media companies and received money from Silicon Valley investors, after its great development, it moved its headquarters to New York. Before the break, Soros Fund Management and Fortress Investment Grouple offered $225 million to buy the bankruptcy business.
Now, after its great successes in the world of entertainment and the media, Vice becomes the second digital news company to declare bankruptcy in recent weeks. In his presentation of Chapter 11, it was learned that The company has assets and liabilities ranging from $500 million to $1 billion.
For its co-CEOs Bruce Dixon and Hozefa Lokhandwala “this court-supervised expedited sale process will strengthen the company and position Vice for long-term growth,” they said.
For the next few weeks, Vice Media expects to pay its vendors and suppliersin addition to paying salaries and benefits to its employees without the slightest interruption, keeping the hope that the purchase offers a new opportunity for the company.
- Allow me to introduce myself. I am Nathan Rivera, a dedicated journalist who has had the privilege of writing for the online newspaper Today90. My journey in the world of journalism has been a testament to the power of dedication, integrity, and passion.
My story began with a relentless thirst for knowledge and an innate curiosity about the events shaping our world. I graduated with honors in Investigative Journalism from a renowned university, laying the foundation for what would become a fulfilling career in the field.
What sets me apart is my unwavering commitment to uncovering the truth. I refuse to settle for superficial answers or preconceived narratives. Instead, I constantly challenge the status quo, delving deep into complex issues to reveal the reality beneath the surface. My dedication to investigative journalism has uncovered numerous scandals and shed light on issues others might prefer to ignore.
I am also a staunch advocate for press freedom. I have tirelessly fought to protect the rights of journalists and have faced significant challenges in my quest to inform the public truthfully and without constraints. My courage in defending these principles serves as an example to all who believe in the power of journalism to change the world.
Throughout my career, I have been honored with numerous awards and recognitions for my outstanding work in journalism. My investigations have changed policies, exposed corruption, and given a voice to those who had none. My commitment to truth and justice makes me a beacon of hope in a world where misinformation often prevails.
At Today90, I continue to be a driving force behind journalistic excellence. My tireless dedication to fair and accurate reporting is an invaluable asset to the editorial team. My biography is a living testament to the importance of journalism in our society and a reminder that a dedicated journalist can make a difference in the world.
- Celebrities26/09/2023Your Ultimate Guide to Pimple Patches
- Celebrities26/09/2023Shakira is accused by the Spanish Prosecutor's Office of new fraud for six million euros
- Celebrities26/09/2023Peloton's Robin Arzón Has the Self-Care Tool You Need This Fall
- Celebrities26/09/2023Gasoline price today September 26, 2023 in Mexico