Disney wrote off the rest of its investment in Vice Media, reflecting the ongoing troubles at the onetime media darling.
Vice co-founder Shane Smith and CEO Nancy Dubuc at the Vice NewFronts 2019 in New York City.
The company, which began as a hipster music and lifestyle magazine, drew investments from some of the biggest names in the media industry under the direction of co-founder Shane Smith, who stepped down from daily operations last year. At one point the business was valued at $5.7 billion. She said that a recent $250-million financing deal with 23 Capital and others would aid her efforts to turn around the business.
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