Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: 67 martyrs in Israeli strikes on Gaza since morning.
Al Mayadeen's correspondent in West Bank: Occupation executes large-scale operation in Al-Jamasin, al-Eyada neighborhoods in Old Askar Camp, East of Nablus.
Al Mayadeen's correspondent in South Lebanon: One person killed in strike that targeted a motorcycle in Al-Mansouri.
Al Mayadeen's correspondent in South Lebanon: Israeli drone strikes motorcycle in town of Al-Mansouri.
Yemeni Armed Forces: The blockade on the Port of Haifa comes following the successful imposition of the siege on the Port of Umm al-Rashrash, which has since ceased operations
Yemeni Armed Forces: The Port of Haifa is now officially part of our target bank
Yemeni Armed Forces calls on companies with ships currently in the Port of Haifa or en route to it to take into account the contents of the statement and any forthcoming announcements
Yemeni Armed Forces: The imposition of a blockade on the Port of Haifa comes in response to the enemy’s escalation of its brutal aggression against Gaza and the continued siege and starvation
Yemeni Armed Forces: Our decisions and operations against the occupying entity will not cease until the aggression on Gaza ends and the blockade on it is lifted
Yemeni Armed Forces: We have decided to begin enforcing a naval blockade on the Port of Haifa, which is now among our list of designated targets

Vice files for Chapter 11 bankruptcy to facilitate sale

  • By Al Mayadeen English
  • Source: News Websites
  • 15 May 2023 16:05
2 Min Read

According to a court document, the corporation reported assets and liabilities in the $500 million to $1 billion range.

  • x
  • Vice files for Chapter 11 bankruptcy to facilitate sale
    Vice magazine co-founder Gavin McInnes speaks on stage with members of the Proud Boys organization in Manhattan, New York,on January 20, 2018. (Reuters)

The Vice Media consortium, best known for its websites Vice and Motherboard, filed for bankruptcy on Monday in order to facilitate a sale to a consortium of lenders, following years of financial struggles and top-executive exits.

According to Vice, the lender consortium, which comprises Fortress Investment Group, Soros Fund Management, and Monroe Capital, will contribute around $225 million in the form of a credit bid for nearly all of the company's assets as well as absorb major liabilities after close.

Creditors might use a credit bid to exchange their secured debt for the company's assets rather than paying cash.

According to a court document, the corporation reported assets and liabilities in the $500 million to $1 billion range.

Related News

US corporate bankruptcies hit 14-year high amid inflation, weak demand

US trucking giant Yellow Corp. fails to pay debts, goes bankrupt

Vice stated that it has obtained commitments from lenders for debtor-in-possession financing as well as approval to utilize more than $20 million in cash, which it claims will be "more than sufficient" to fund its operations during the selling process.

The bankruptcy filing comes at a difficult time for numerous technology and media organizations, which have been forced to downsize in recent months owing to a volatile economy and a sluggish advertising market.

Vice was one of a slew of fast-rising digital media companies that demanded exorbitant values as they courted millennial consumers. It grew in popularity with its co-founder, Shane Smith, who established his media empire with a single Canadian magazine.

The company announced in April that it will eliminate the popular TV show "Vice News Tonight" as part of a larger restructuring that would result in job cutbacks throughout the digital media firm's worldwide news operation.

BuzzFeed Inc. said last month that it will close its news section, which was famed for its humorous coverage but eventually succumbed to the problems of its digital-first economic model.

Read more: Buzzfeed to use AI to write its articles after firing 180 employees

  • Vice Media
  • Media Outlets
  • Bankruptcy

Most Read

Gaza and the logic of necropolitics: Sovereignty measured by killing

Gaza and the logic of necropolitics: Sovereignty measured by killing

  • Politics
  • 15 May 2025
Two F-35 jets arrive at it's new operational base Wednesday, Sept. 2, 2015, at Hill Air Force Base, in northern Utah. (AP)

F-35 near-misses over Yemen signal new risks for 'Israel': Forbes

  • Politics
  • 14 May 2025
Abu Obaida

Abu Obeida posts shortly after Israeli reports about his assassination

  • Palestine
  • 15 May 2025
YAF say struck 'Israel's' Ben-Gurion Airport with missiles, drones

YAF say struck 'Israel's' Ben Gurion Airport with missiles, drones

  • MENA
  • 18 May 2025

Coverage

All
Gaza prevails against genocide

Read Next

All
Britain's Prime Minister Keir Starmer, Deputy Prime Minister Angela Rayner and Foreign secretary David Lammy leave after attending the annual Commonwealth Day Service at Westminster Abbey in London, Monday, March 10, 2025. (AP)
Politics

Labour Minister breaks ranks, blasts government over Gaza

China’s advanced AI may surpass US Efforts: Report
Asia

China’s advanced AI may surpass US efforts

A Boeing 777X is brought on the runway ahead of a display flight, at the Farnborough Air Show fair in Farnborough, England, Tuesday, July 19, 2022 (AP)
US & Canada

Boeing stock rises after Trump secures major Gulf deals

MEPs urge the Commission to act so that all EU citizens can travel to the US without visas©AP Images/European Union-EP
US & Canada

Americans race for EU residency as immigration doors begin to close

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS