Vice Media Shuts Down Vice.com, Cuts Jobs as Part of Major Restructuring After Bankruptcy
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Vice Media is stopping publishing on its Vice.com website and cutting hundreds of jobs per a memo from its CEO.
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The company filed for bankruptcy in May and was bought by Fortress Investment Group.
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Vice plans to partner with other media companies to distribute its digital content going forward.
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The CEO said it's no longer cost-effective for Vice to distribute content the way it has been.
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Vice was once valued at $5.7 billion in 2017 but has struggled to grow revenues and turn a profit in recent years.