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Vice Media

Vice Media Group LLC
Company typeJoint venture
IndustryMass media
Founded1994 (1994)
Founders
FateChapter 11 bankruptcy
Headquarters
Key people
Bruce Dixon (CEO)[1]
Brands
RevenueIncrease $125 million (2012)[6]
OwnersFortress Investment Group, Soros Fund Management, and Monroe Capital[7]
Number of employees
1,000+[8]
Websitewww.vicemediagroup.com

Vice Media Group LLC is an American-Canadian digital media and broadcasting company. As of June 2021, the Vice Media Group included five main business areas: Vice.com (digital content); Vice Studios (film and TV production); Vice TV (also known as Viceland); Vice News; and Virtue (an agency offering creative services). It was cited as the largest independent youth media company in the world, with 35 offices.[9]

Developing from Vice magazine, originally founded and based in Montreal and co-founded by Suroosh Alvi,[10] Shane Smith, and Gavin McInnes,[11] Vice expanded primarily into youth and young adult-focused digital media. This included online content verticals and related web series, the news division Vice News, a film production studio and a record label, among other properties. Vice re-located to New York City in 2001. Vice Media originally broadcast their news programs on HBO, including the Emmy-winning[12] weekly documentary series Vice, which premiered in April 2013. Vice features segments on global issues hosted by co-founders Smith and Alvi, and a rotating cast of correspondents.[13][14] They also broadcast Vice News Tonight, which premiered 10 October 2016, showcased a nightly roundup of global news, technology, the environment, economics, and pop culture while eschewing traditional news anchors.[15][16][17] On 10 June 2019, HBO announced the news program's cancellation in addition to ending relations with Vice Media after a seven-year partnership.[18] In August 2019, it was reported that the company was laying off staff as part of a shift towards news that would involve merging Viceland and Vice News.[19]

In April 2023, it was announced that Vice Media was restructuring and downsizing its news division.[20][21][22] In May, Vice filed for Chapter 11 bankruptcy[23] and agreed to be acquired by a consortium led by Fortress Investment Group for $350 million in June.[7] In February 2024, CEO Bruce Dixon announced additional layoffs and that the Vice.com website would cease publishing content, instead partnering with other media companies to distribute its content.[24][25]

  1. ^ White, Peter (7 December 2023). "Vice Co-CEO Hozefa Lokhandwala To Exit". Deadline. Retrieved 24 February 2024.
  2. ^ Lodderhose, Diana (29 April 2024). "Vice Media Unveils New Creative Structure For Global Production Biz; Elevates Jamie Hall & Danny Gabai To Co-Presidents Of Newly-Formed Vice Studios Group". Deadline. Retrieved 29 April 2024.
  3. ^ Shields, Mike (26 January 2017). "Vice Encroaches on Ad Agency Business With Creation of Virtue Worldwide". The Wall Street Journal. Archived from the original on 29 March 2017. Retrieved 8 April 2017.
  4. ^ Jaafar, Ali (29 March 2016). "Vice Media Acquires Majority Stake In UK Production Company Pulse Films". Deadline Hollywood. Archived from the original on 6 July 2022. Retrieved 18 September 2016.
  5. ^ Spangler, Todd (5 July 2016). "Vice Buys Garage Magazine, Will Launch Digital Channel for Art, Fashion and Architecture". Variety. Archived from the original on 23 May 2023. Retrieved 11 December 2017.
  6. ^ "What Vice's Stunning Financials Tell Us About the Future of Media". Forbes. Archived from the original on 28 May 2023. Retrieved 26 December 2020.
  7. ^ a b Sherman, Alex; Rizzo, Lillian (22 June 2023). "Vice Media declares Fortress Investment Group the winning bidder in bankruptcy sale". CNBC. Archived from the original on 22 June 2023. Retrieved 25 December 2023.
  8. ^ Spangler, Todd (9 November 2023). "Vice Media Making Fresh Round of Layoffs After News Shows Not Renewed, Consolidates Operations to Two Divisions". Variety. Archived from the original on 17 January 2024. Retrieved 17 January 2024.
  9. ^ Cite error: The named reference nine2021 was invoked but never defined (see the help page).
  10. ^ "Ex Heroin Addict Turned Media Mogul, Outlook – BBC World Service". BBC. Archived from the original on 31 January 2017. Retrieved 27 January 2017.
  11. ^ Cite error: The named reference auto1 was invoked but never defined (see the help page).
  12. ^ "Vice". Television Academy. Archived from the original on 13 August 2017. Retrieved 13 June 2019.
  13. ^ Hale, Mike (4 April 2013). "'Vice,' a New Approach to News, on HBO". The New York Times. ISSN 0362-4331. Archived from the original on 9 March 2017. Retrieved 8 March 2017.
  14. ^ Cite error: The named reference VICESeason5HBO was invoked but never defined (see the help page).
  15. ^ Cite error: The named reference VICENewsTonightPostponesLauch was invoked but never defined (see the help page).
  16. ^ Cite error: The named reference VICENewscastsnet was invoked but never defined (see the help page).
  17. ^ Cite error: The named reference :0 was invoked but never defined (see the help page).
  18. ^ Darcy, Oliver (10 June 2019). "HBO cancels 'Vice News Tonight,' severing relationship with Vice Media". CNN. Archived from the original on 3 October 2020. Retrieved 13 June 2019.
  19. ^ Cite error: The named reference Mullin was invoked but never defined (see the help page).
  20. ^ Darcy, Oliver (27 April 2023). "Vice Media cancels its flagship 'Vice News Tonight' program as it makes 'painful' layoffs and restructures the company". CNN. Archived from the original on 23 November 2023. Retrieved 23 November 2023.
  21. ^ Johnson, Ted (27 April 2023). "'Vice News Tonight' To End As Company Undergoes News Layoffs And Restructuring". Deadline. Archived from the original on 26 November 2023. Retrieved 23 November 2023.
  22. ^ Reilly, Liam (9 November 2023). "Vice to end several news shows and lay off dozens of staffers in hollowing out of news division". CNN. Archived from the original on 10 November 2023. Retrieved 10 November 2023.
  23. ^ Cite error: The named reference c11 was invoked but never defined (see the help page).
  24. ^ Spangler, Todd (22 February 2024). "Vice Will Cease Publishing on Vice.com and Lay Off 'Several Hundred' Staffers, CEO Says". Variety. Archived from the original on 22 February 2024. Retrieved 22 February 2024.
  25. ^ Saeedy, Alexander; Bruell, Alexandra (22 February 2024). "Vice Media to Stop Publishing on Vice.com, Plans to Cut Hundreds of Jobs". The Wall Street Journal. Archived from the original on 22 February 2024. Retrieved 24 February 2024.

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