How Vice Media Went Bankrupt

New documents reveal a yearslong slide into increasing financial desperation

Mark your calendar for Mediaweek, October 29-30 in New York City. We’ll unpack the biggest shifts shaping the future of media—from tv to retail media to tech—and how marketers can prep to stay ahead. Register with early-bird rates before sale ends!

The digital media company Vice filed for Chapter 11 bankruptcy in May, and new documents disclosed in the proceedings offer a rare glimpse into the financial maneuvering that led the privately held company to insolvency. 

In particular, they reveal that Vice raised more than $1.3 billion in debt and equity financing using at least eight fundraising vehicles since 2017—often to compensate for a near-constant cash deficit.

The strategy, in conjunction with a shifting media and financial landscape, left the company in precarious financial health, which gave out when a key payment failed to materialize in January.



Subscribe today!

To Read the Full Story Become an Adweek+ Subscriber

View Subscription Options

Already a member? Sign in