Vice attracted big money investments from companies like Disney and 21st Century Fox, and was at one point valued at $5.7 billion, NPR reported. On Saturday, the company distributed to its staff members a. First founded in 1994 as a magazine, Vice gradually grew throughout the 2010s to encompass numerous media outlets, including its eponymous Vice News and Emmy-winning "Vice News Tonight" television program, as well as lifestyle brands like Motherboard and Refinery29. On Friday, Vice Media provided a statement to The New York Times in response to questions about its workplace culture. 'We need to be authentic, we need to be genuine, we need to be real,' he said. The bankruptcy represents a fall from grace for one of the most notable journalism companies in recent years. Vices success as a media organisation is linked to being authentic and telling real stories, Derkits said. If its an earnings press release, the release will discuss the companys financial results for the recently. This sales process will "position Vice for long-term growth, thereby safeguarding the kind of authentic journalism and content creation that makes Vice such a trusted brand for young people and such a valued partner to brands, agencies, and platforms," Vice co-CEOs Bruce Dixon and Hozefa Lokhandwala said in a press release. Press Release: News that is sent out or released by the company making the news. May 1 (Reuters) - Vice Media Group, the company behind popular media websites such as Vice and Motherboard, is preparing to file for bankruptcy, the New York Times reported on Monday, citing people with knowledge of its operations. The group, led by Fortress Investment Group, Soros Fund Management, and Monroe Capital, will purchase Vice's assets for $225 million and take on liabilities as high as $1 billion, the filing said. Vice will enter into a purchasing agreement with a number of its vendors to try and stay afloat, according to a filing in New York federal court. The brand has become the latest in a long line of media conglomerates facing economic troubles. Affairs, Former Vice Chairman of the Joint Chiefs of Staff Pleads Guilty to Federal Felony in Leak. Vice Media, the company that once dominated the next generation of digital journalism, filed for Chapter 11 bankruptcy on Monday.
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