Failing Vice Media Outlet Closes Deal With George Soros

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TownHall

Billionaire George Soros is set to take control of Vice Media, a failed liberal media network. 

According to the Wall Street Journal, Vice Media is close to settling a deal to sell itself out of bankruptcy to lenders, including Fortress Investment Group and Soros Fund Management, for a roughly $400 million valuation.

 

At its prime in 2017, Vice Media was at its peak valuation of $5.7 billion. 

Nearly all of Vice’s stockholders, including James Murdoch, the son of Fox News CEO Rupert Murdoch, will be forfeited as a result of the deal. It would also elevate outstanding debts owed to TPG Group and Sixth Street stockholders.

The Soros-founded hedge fund management company manages the assets of the Soros family and several other institutional clients. At the same time, Fortress Investment Group is an investment management firm that manages alternative assets in private equity, credit, and real estate. :snip:

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Vice Media is expected to be acquired out of bankruptcy for $225 million by cohort of lenders led by Fortress Investment Group - after rejecting higher bid from rival GoDigital

• Vice Media has reached a widely anticipated deal to take it out of bankruptcy
• Fortress Investment Group led Soros Fund Management to make a winning bid
• A higher bidder, GoDigital, said it had a 'better plan' that was rejected
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