Far-Left Media Company Reportedly About to File For Bankruptcy

Another far-left media outlet is reportedly on the verge of collapse.

We had earlier reports of Buzzfeed shutting down its news division amid a 15% cut of its workforce.

BREAKING: Massive Far-Left News Outlet To SHUT DOWN!

Americans are growing tired of the lies and propaganda pushed by leftist media organizations.

News outlets that regurgitate the government's positions and policies are falling more and more out of touch with the American public.

The latest example is Vice Media Group.

The American-Canadian digital media and broadcasting company is reportedly on the verge of bankruptcy.

Vice is reportedly preparing to file for bankruptcy pic.twitter.com/e0olUdMqA7

— Dexerto (@Dexerto) May 1, 2023

Vice Media Preparing To File For Bankruptcy https://t.co/PGOWuXZ7NU pic.twitter.com/KJllABw6ye

— Deadline Hollywood (@DEADLINE) May 1, 2023

The company was once valued at nearly $6 billion.

However, Vice has experienced a turbulent year and reportedly cannot find a buyer.

Deadline reported:

Vice Media Group, the swashbuckling, youth-skewing digital media brand, is preparing to file for bankruptcy.

The company, which was valued at $5.7 billion in 2017, is considering the move after struggling to find a buyer, according to reports.

It comes after a tumultuous start to the year for the company, which saw Nancy Dubuc exit after five years, replaced by Bruce Dixon and Hozefa Lokhandwala, as well as the departure of Global President of News & Entertainment Jesse Angelo to launch his own production company.

Last week, the company underwent the latest in a series of layoffs, streamlining its news division and canceling its signature show in Vice News Tonight.

“Vice Media Group has been engaged in a comprehensive evaluation of strategic alternatives and planning,” Vice said in a statement to the New York Times, which broke the news. “The company, its board and stakeholders continue to be focused on finding the best path for the company.”

The preparations come as the company is still searching for a buyer, which could happen over the next few weeks.

Vice isn't the only media company experiencing mass layoffs.

Benny Johnson noted that numerous outlets, including ABC, ESPN, and NPR, have relieved employees of their jobs.

BuzzFeed News: Dead

Vice: Dead

Gawker: Dead

Mic: Dead

CNN: Sold for parts

Wapo, ESPN, ABC, NPR, Vox, CBS, NBC: Mass Layoffs

LESSON: Hive-mind vomiting the same fussy, pretentious lefty propaganda into the faces of your audience has an end point, that end point is bankruptcy

— Benny Johnson (@bennyjohnson) May 2, 2023

It shows that Americans are tired of the same propaganda pushed onto their television and computer screens every day.

Axios added:

Why it matters: Vice was once considered one of the most successful news startups of all time when investors valued it at $5.7 billion in 2017. Now it's struggling to sell itself for more than $1 billion.

Details: The company has taken steps to file for possible bankruptcy if it cannot secure a buyer in the next few weeks, sources told Axios.

Vice is still engaged in talks to sell itself, either in full or in pieces, two sources told Axios. A sale would prevent bankruptcy, but finding a buyer willing to pay more than $1 billion for the company has been challenging, as has finding one willing to take on the company's debt load.

Vice raised more than $30 million in debt financing from Fortress Investment Group, one of its largest creditors, in February. Fortress had already participated in Vice's $250 million 2019 debt round.

The latest round gave the firm preferential treatment to be paid out first should the company sell, The Wall Street Journal reported. If the company did go bankrupt, it's likely Fortress would take control of Vice and run an auction to sell it, per The New York Times, which first reported the potential bankruptcy news.

A Vice Media Group spokesperson said the company "has been engaged in a comprehensive evaluation of strategic alternatives and planning. The company, its board and stakeholders continue to be focused on finding the best path for the company.”