Vice preparing to file for bankruptcy, seeking a buyer: Reports

Media company Vice is preparing to file for bankruptcy in the coming weeks, according to media reports. 

The company has been actively seeking a buyer to avoid bankruptcy. At least five companies have demonstrated interest in acquiring Vice, the reports stated. 

When BestMediaInfo.com reached out to Vice, they declined to comment.

After receiving funding from TPG, a private-equity firm, in 2017, Vice was valued at $5.7 billion. However, its current value is significantly lower. If Vice goes bankrupt, it's possible that Fortress Investment Group, the company's largest debtholder, could gain control over it.

Vice would maintain its regular operations while conducting an auction to sell the company for a duration of 45 days, with Fortress being the front-runner as the most probable buyer.

Info@BestMediaInfo.com