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Fortress Investment, Soros Fund and Monroe Capital completed the acquisition of VICE Media for $350m.

Synopsis

Fortress Investment, Soros Fund and Monroe Capital, three investment management firms, completed the acquisition of VICE Media, a global multi-platform media company, for $350m. "VICE serves a huge global audience with a unique brand of news, entertainment and lifestyle content. This accelerated court-supervised sale process will strengthen the Company and position VICE for long-term growth, thereby safeguarding the kind of authentic journalism and content creation that makes VICE such a trusted brand for young people and such a valued partner to brands, agencies and platforms. We will have new ownership, a simplified capital structure and the ability to operate without the legacy liabilities that have been burdening our business. We look forward to completing the sale process in the next two to three months and charting a healthy and successful next chapter at VICE," Bruce Dixon and Hozefa Lokhandwala, VICE Co-CEO. On June 23, 2023, Court approves VICE Media purchase agreement by lenders for $350m, increased from initial bid of $225m.

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