The company, once valued at $5.7 billion, has struggled with debts and shrinking ad revenue in recent years.
Filing for bankruptcy is a new low for a company that was once one of the hottest media brands around, and boasted investment from the likes of Fox Corp. and Disney. At one point Vice was reportedly valued at $5.7 billion and was set on a path for a stock market listing.
But the Brooklyn-based company has suffered greatly from a series of internal problems and outside factors that it had little control over. In particular, 2023 has proved to be something of annus horribilis for Vice, with
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