Vice Media closes sale to funds
August 1, 2023
Vice Media, the digital media and broadcasting company, has completed its sale to a group of former lenders led by Fortress Investment Group, Soros Fund Management and Monroe Capital. The sale was announced back in June and is valued at $350 million (€318.9m).
A company statement read: “We are very pleased to complete the acquisition of Vice and we are excited to build upon the achievements of one of the most iconic brands in news and entertainment. We look forward to growing a strong business that is committed to serving audiences, brands and partners with award-winning content. With a strong management team in place, Vice is well-positioned to grow its uniquely compelling world-class businesses and drive value during its next chapter.”
“This marks the start of an exciting new chapter for Vice” said the company’s co-CEos Bruce Dixon and Hozefa Lokhandwala. “With the support of our investor group, we now have the resources to strengthen our business, our partnerships and our content creation across all platforms. Under new ownership and with this leadership team, Vice is positioned to drive our uniquely differentiated brand of news, entertainment and lifestyle content that makes Vice a trusted brand for global audiences and a valued partner to brands, agencies and platforms”.