![]() ![]() Now, however, most experts estimate the company is worth just a fraction of that, The New York Times reported earlier this month. In 2017, Vice was valued at $5.7 billion. Monday's filings show that Vice has total outstanding debt of $834 million. The media company has struggled to turn around profits in recent years. The media company’s assets also include film and TV production, an in-house marketing agency, and brands such as Refinery 29 and Unbothered. Over the years, Vice developed a reputation for in-your-face journalism that covered daring stories around the world that particularly resonated with new, young audiences across digital platforms. Vice soon moved to New York and built itself into a global media company. Vice Media's roots date back to 1994, with the launch of Vice’s original punk magazine in Montreal. “With such a focus on youth, it can be really difficult to keep being youth-oriented - and change your brand and your appeal for the next generation,” Duncan said.ĭuncan also noted that Vice has relied on different rounds of funding and investors throughout the company's history and “never really found the business model in its most recent, modern digital age that was going to sustain it.” Beyond all of this, the company has its own “complicated history” with troubles in leadership and employment, she added. “When you're not pulling in the numbers that you would expect advertising-wise, you're losing money."īeyond advertising and the shifting digital landscape, Mollica and Duncan also pointed to the changing habits of news consumers today - and challenges media companies across the industry face as they try to reach audiences. “One of the things that I think really hurt Vice, and in turn BuzzFeed as well, is social media networks like Facebook changing their algorithms,” Jason Mollica, professor at American University’s School of Communication, said. “Advertising is down across the board, so it’s a test for a lot of the digital publications,” Megan Duncan, assistant professor at Virginia Tech's School of Communication, told The Associated Press.ĭuncan and others also noted the changing landscape of social media - a space where outlets like Vice once thrived in terms of reaching audiences. announced that its Pulitzer Prize winning digital media outlet BuzzFeed News was being shut down as part of a cost-cutting drive by its corporate parent.ĭigital advertising has plummeted this year, cutting into the profitability of major tech companies from Google to Facebook. There has been a wider surge of media layoffs and closures, including job cuts at Gannett, NPR, the Washington Post and other organizations. The company also said it would end its Vice World News brand. The bankruptcy filing arrives just weeks after the company announced it would cancel its flagship “Vice News Tonight” program amid a wave of layoffs expected to impact more than 100 of the company’s 1,500-person workforce, the Wall Street Journal reported. Regular features, such as Walter Scott’s Parade Personality and Ask Marilyn, remain.By clicking Sign up, you agree to our privacy policy. The layout has been redesigned and appears more modern and much crisper. I checked out the first Parade e-edition, and quite frankly I liked it. The Sunday print edition is expected to continue indefinitely. Likewise, U-T readers know that someday in the distant future, years down the road, the U-T will stop daily print and move primarily to the e-edition. But printing is expensive, and each year the number of print newspaper readers declines. It appeared to have a decent number of ads, (almost all targeted to older folks) given its size of about 16 pages. I’m sure readers noticed that it had become so small in recent years that it could get lost in the Sunday inserts. The Arena Group letter to newspapers and the editor’s note to readers gave no reason for stopping print. 13, Editor-in-Chief Anne Krueger said it had been distributed to more than 900 newspapers nationwide and had as many as 50 million readers. In a note to readers in the final print edition Nov.
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