Vice Media's office building is seen in Los Angeles, Monday, May 15, 2023. Photo: Jae C. Hong/AP Shearman, Togut, Gibson Dunn and Wachtell Land Key Roles as Vice Media Files for Chapter 11
Corporate bankruptcy filings through April were higher than the first four months of any year since 2010, according to S&P Global data.
May 15, 2023 at 02:46 PM
2 minute read
Vice Media, valued at $5.7 billion as recently as 2017, filed for Chapter 11 bankruptcy protection on Monday as its lenders sought to recoup most of a $250 million loan from 2019.
The lenders, Fortress Credit Corp. and Soros Fund Management, entered into a stalking horse agreement to buy Vice for $225 million if no higher bid materializes during a 55-day sale period. Bankruptcy records indicate the company has $834 million in debt and $350 million in assets.
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