Vice Media has filed for bankruptcy. It is expected to be sold to Fortress Investment Group and Soros Fund Management for 225 million dollars.
In late April, the once-$5.7 billion company shut down VICE World News and canceled VICE News Tonight. The same has happened to Buzzfeed, which last month closed its news division and announced layoffs for much of its staff.. The company will continue to operate normally during this process its Vice News, Vice TV, Pulse Films, Virtue and Refinery29 sections.