#Vice media group brooklyn tv

Following the bankruptcy sale, several top execs left the company including Katie Drummond, SVP of global news and entertainment, who subsequently joined Wired. Vice Media filed for Chapter 11 bankruptcy protection in May, after months of struggling to pay its bills, and in July closed a $350 million sale to its lenders - a fire sale for the company that had once boasted a valuation of $5.7 billion. To add insult to injury, the company handled today’s announcement in a typically sloppy fashion, inviting everyone -including people who had already been laid off- to an all-hands ‘meeting’ that was in fact a livestream video that gave attendees no opportunity to ask questions.” As has been the case in previous layoffs, Vice has once again decided to let go of the very same people who have worked tirelessly over the years to turn it into a respected, award-winning media company.” The union continued, “Entire teams were gutted, and scores of people lost their jobs today. In a statement, the WGA East-affiliated Vice Union said about the layoffs, “We can no longer express shock and surprise that Vice has determined its only way forward is to lay people off. Vice Media currently has a bit over 1,000 staffers worldwide at one point, it counted about 3,000 employees. The layoffs will result in fewer than 100 job eliminations, per a source familiar with the situation.

#Vice media group brooklyn tv

Under the new structure, the company’s two business segments are: Publishing, News and Creative Services, comprising publishing teams across entertainment and news, as well as in-house creative agency Virtue and the company’s commercial group and Studios, Television and Distribution, combining the Vice Studios Group (Vice Studios and Pulse Films), Vice News Films, Vice TV and distribution. In addition, Vice Media is consolidating its lines of business, going from five to two. “As such, we will be winding down those productions and sadly this will have an impact on certain roles.” Prior to its bankruptcy filing earlier this year, Vice Media made layoffs in its news division and said it was ending “Vice News Tonight,” its award-winning nightly show on Vice TV that had previously aired on HBO. Vice Media Closes $350 Million Sale to Investors Fortress, Soros Fund Management and Monroe CapitalĪ “number of Vice News shows have reached the end of their production cycle and have not been renewed with distributors as of yet,” the CEOs wrote in the memo.

Three Senior Vice Media Editorial Staffers Exiting After Company Closes Post-Bankruptcy Sale IRS Claims Vice Media Owes Nearly $41 Million in Back Taxes for Refinery29 The cutbacks and reorg were announced by co-CEOs Bruce Dixon and Hozefa Lokhandwala in a memo to employees of the Brooklyn-based media company Thursday. In April, Vice announced that it was streamlining its news division, including layoffs and the cancelation of its signature newscast, Vice News Tonight.Vice Media Group is undertaking a new restructuring plan - and shedding more staff - in the wake of its bankruptcy and asset sale. Jesse Angelo, who was Global President of News & Entertainment, left shortly after. Shane Smith, one of three original founders, ran the business as CEO from its founding until 2018, when he was replaced by former A+E Networks boss Nancy Dubuc, who exited early this year.

LA company GoDigital, one of the bidders for Vice, put out a statement today saying its offer was “significantly more than the stalking horse bid by the sellers” and “included a concrete plan with real, renewed leadership, expertise, and investment that would have led to a profitable Vice in under 12 months.”īrooklyn-based Vice, led by co-CEOs Bruce Dixon and Hozefa Lokhandwala, had been looking for investors or a buyer for some time but hadn’t been able to close a deal. “The sole Successful Bidder is the Stalking Horse Bidder” - officially called Vice Acquisition HoldCo, LLC. (prevailing Eastern Time) is hereby CANCELLED.” Tubi Hires For Int'l Expansion BritBox Bags Dramas Jio Studios & Prime Video India Film Updates 'Glow Up China' Jewish, Muslim & Arab Film & TV Workers Get UK Charity Support - Global BriefsĪfter years of financial struggle, the iconic magazine turned youth-based digital media and news outlet, filed for bankruptcy in May in the Southern District of New York.Ī ‘Notice of Designation of Successful Bidder’ filed with the court this morning said that the “Debtors, in consultation with the Consultation Parties, did not receive any Qualified Bids (other than the Stalking Horse Bid) prior to the Bid Deadline” and “that accordingly, the Auction scheduled for