TIPSHEET
Failing Vice Media Outlet Closes Deal With George Soros
Sarah Arnold | May 05, 2023 5:45 PM
Billionaire George Soros is set to take control of Vice Media, a failed liberal media network.
According to the Wall Street Journal, Vice Media is close to settling a deal to sell itself out of bankruptcy to lenders, including Fortress Investment Group and Soros Fund Management, for a roughly $400 million valuation.
At its prime in 2017, Vice Media was at its peak valuation of $5.7 billion.
Nearly all of Vice’s stockholders, including James Murdoch, the son of Fox News CEO Rupert Murdoch, will be forfeited as a result of the deal. It would also elevate outstanding debts owed to TPG Group and Sixth Street stockholders.
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READ MORE: https://townhall.com/tipsheet/saraharnold/2023/05/05/vice-media-closes-deal-with-george-soros-n2622899
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