According to reports from TheBlaze, the Soros Fund Management investment firm, which was established by Emperor Palpatine himself, George Soros, is close to finalizing a deal to buy out Vice Media. How much are they potentially paying for the company? Try a cool $400 million, the Wall Street Journal said.
“To avoid filing for Chapter 11, Vice would need to sell to the investment groups or obtain another offer. The company was once valued at nearly $6 billion in 2017 but is currently only $400 million,” the report stated. “Within the last few weeks, the media company has announced that it is shutting down its ‘Vice News Tonight’ program and its global reporting unit, Vice World News.”
“Vice Media Group also operates the film and television production unit Vice Studios, the television network Vice TV, the creative agency Virtue, and Vice News. Additionally, the media group owns the website Refinery29, i-D magazine, Pulse Films, and a bar in London,” it continued.
Nancy Dubuc, who served as the company’s CEO for five years, stepped down from her position back in February. Bruce Dixon and Hozefa Lokhandwala were her replacements.
Both Dixon and Lokhandwala sent out a memo to employees last month saying, “In response to the current market conditions and business realities facing [Vice Media Group] and the broader news and media industry, we are moving forward on some painful but necessary reductions, primarily across our News business.”
“We are transforming Vice News to better withstand market realities and more closely align with how and where we see our audiences engaging with our content most,” they continued.
After Vice struggled to find someone interested in buying the company for almost a year, it seems the control over the company will be handed off to Fortress Investment Group, the biggest senior lender for the outlet. The sale would clean out the other shareholders, which includes TPG Group, Sixth Street Partners, and James Murdoch.
TheBlaze said, “According to the WSJ, Fortress plans to keep Vice’s current management, including finding a role for the company’s co-founder, Shane Smith, who is currently Vice’s executive chairman. However, it is currently unclear what role Smith would take if investors move forward with the deal to buy out the company. “
Smith was the company’s CEO before Dubuc, but he stepped away from the company and being in the public eye after reports emerged accusing him of sexual harassment inside the company, along with allegations that he established the outlet on lies.
George Soros is seriously like a real life Bond villain. There’s nothing corrupt in this country that hasn’t been touched by the guy. He’s also been working hard to get as many district attorneys as possible placed in cities around the country to help usher in extreme soft-on-crime policies. This is likely part of a plot to ensure that criminals, who the left wants to be able to vote in elections, sign up to be Democrats if they actually manage to make that a reality.
At the end of the day, anything that has Soros involved in it is really bad news.