Vice abandoning Europe?

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Youth-focussed TV and media business Vice Media is slashing costs in Europe which could also see the end of its TV channels.

A report in the Sunday Telegraph said that its relationship with Virgin Media is also ending having failed to reach terms with Virgin over carriage of the channel.

However, the report comes only days after Vice Media announced that it was retooling its thinking and launching Vice World News – in conjunction with iHeart Media – programming division.

The company laid off a further 155 staff in May having announced plans to lay off 250 employees in February 2019.

In January the company wrote down the value of its international arm, including its Vice UK operation, and citing “Brexit uncertainty” for its continuing losses. Its annual turnover had fallen by a third.


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