From $8.5 billion to dead broke: Where it all went wrong for Vice Media

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From $8.5 billion to dead broke: Where it all went wrong for Vice Media

Vice Media Group officially filed for Chapter 11 bankruptcy protection earlier this month, marking a dramatic collapse for a company that investors valued at US$5.7 billion (AU$8.5b) just six years ago.

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The bankruptcy proceedings cap off a dramatic collapse for a company that was once valued at $5.7 billion in 2017 after reportedly having turned down a $3.5 billion acquisition offer from Disney a year earlier. In the past few years, however, Vice had struggled to consistently turn a profit and even missed its revenue projection for 2022 by $100 million.

Source and more: https://www.forbes.com.au/news/investing/inside-the-dramatic-rise-and-fall-of-vice-media/





First Buzzfeed, now Vice.. Now where am I going to find quizzes that decide which sandwich best suits my personality???
 
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