George Soros fund nears $400M deal to buy Vice Media out of bankruptcy: report
Bankruptcy-bound Vice Media will reportedly be bought out of Chapter 11 by investors who include billionaire George Soros for about $400 million — after the Brooklyn-based company was once valued at nearly $6 billion.
The cash-strapped media company has been prepping for the bankruptcy filing after failing to find a buyer over the past year, The Post reported last week.
The company’s post-bankruptcy arrangement will be to sell itself to the Soros Fund Management — founded by the 92-year-old left-wing activist — and Fortress Investment Group in a deal that would value the once-high-flying Vice at just $400 million, the Wall Street Journal reported Friday.
The move could spell a return to the spotlight for bombastic Vice Media co-founder Shane Smith, who held the role of CEO in the company’s heyday, including being valued at $5.7 billion in 2017.
Reps for Vice Media, Soros Fund Management and Fortress did not immediately respond for comment.
https://nypost.com/2023/05/08/soros-fund-nears-400m-deal-to-buy-vice-media-out-of-bankruptcy-report/