Disney writes-off over $400m on Vice
May 9, 2019
The Walt Disney Company put more than $400 million (€356.2m) cash into Vice, but in investor filings this week Disney revealed it no longer thinks it will ever get any return on the digital publisher — a company that was supposedly worth $5.7 billion.
Vice is still worth something to some; last week, a group of lenders said they put a fresh round of $250 million into the company.
Disney told investors that it had written down $353 million of its investment previously put into Vice. Last year Disney already knocked down the value of its Vice investment by $157 million.