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Hozefa Lokhandwala is the latest top exec to leave Vice Media Group.

Vice Media Group is beginning a restructuring process that will see the departure of a number of employees.

Todd Spangler NY Digital Editor The Internal Revenue Service filed a claim in Vice Media Group’s bankruptcy case saying the company’s Refinery29 division owes the U.S. government about $40.9 million in back taxes, interest and penalties. The total tax bill for Refinery29, a digital media outlet that focuses on fashion, beauty and wellness topics, runs from the first quarter of 2020 through June 2023, per the IRS’s claim filed on Aug.

Todd Spangler NY Digital Editor Vice Media Group announced the completion of its post-bankruptcy sale to a consortium of former lenders, in a deal valuing the once-high-flying media company at $350 million. As previously announced, the new owners of Vice Media are funds managed by affiliates of Fortress Investment Group, Soros Fund Management and Monroe Capital.

Jennifer Maas TV Business Writer After filing for Chapter 11 bankruptcy in May, Vice Media is set to be acquired by its lenders Fortress Investment Group and and Soros Fund Management. Vice representatives declined Variety‘s request for comment Thursday, however, an internal memo was sent out to employees confirming the deal with its own backers, as first reported by the New York Times, is slated to close July 7. A court hearing is scheduled for Friday during which Fortress’s winning $225 million bid (Vice was valued at $5.7 billion in 2017) for Vice is set to be approved. At that point, the sale will still need to clear a regulatory approval process to be finalized.

Trail-blazing youth brand Vice Media has formally filed for Chapter 11 bankruptcy protection.

Vice Media Group, said on Monday it had filed for Chapter 11 protection to facilitate its sale. The company said in a court filing that it listed both assets and liabilities in the range of $500 million to $1 billion, according to the Reuters news service. The statement also said that the group had agreed to the terms of an asset purchase agreement with a consortium of lenders. These include Fortress Investment Group, Soros Fund Management, and Monroe Capital. The consortium agreed to provide total purchase consideration of approximately $225 million in the form of a credit bid for substantially all of the company’s assets, in addition to the assumption of significant liabilities upon closing, the statement said.

Todd Spangler NY Digital Editor Struggling media company Vice Media Group is gearing up to file for Chapter 11 bankruptcy protection — and then sell itself to some of its backers for about $400 million, according to a new report. The Brooklyn-based company post-bankruptcy arrangement to sell to investors including Fortress Investment Group and Soros Fund Management would value it at $400 million, the Wall Street Journal reported. That would be less than 10% of its once high-flying $5.7 billion valuation back in 2017. The New York Times last week reported that Vice was prepping a bankruptcy filing. A spokesman for Vice Media declined to comment. Representatives for Fortress and Soros Fund Management did not respond to requests for comment.

Vice Media Group, the swashbuckling youth-skewing digital media brand, is preparing to file for bankruptcy.

Vice Media Group announced that it was streamlining its news division, including layoffs and the cancelation of its signature newscast, Vice News Tonight.

EXCLUSIVE: Vice Media has a new partner in the documentary space.

Semafor reported on Monday.A “person with direct knowledge of the transaction” told Semafor that Smith sold more than $100 million of his own shares when A&E and Crossover Ventures invested a joint $500 million in Vice in the 2014 deal. Smith then told a friend he was now “post-economic.”Among the lavish expenditures he’s reported to have made: A vintage Rolls Royce, a mountain in Costa Rica and $300,000 on a single dinner in Las Vegas.

Jennifer Maas TV Business Writer Bruce Dixon and Hozefa Lokhandwala have been on the job for less than two weeks as co-CEOs of Vice Media Group. But despite the newness of their current roles, Lokhandwala and Dixon are already well versed in the inner workings of the Brooklyn-based company, having served for several years in senior roles under recently exited CEO Nancy Dubuc. Lokhandwala has been chief strategy officer at VMG since October 2018, and Dixon has held the position of CFO since 2021 and was previously CFO of Vice Studios. Both were brought in by Dubuc — who departed the company Feb. 24 after nearly five years as CEO — and now seek to follow in her footsteps while shaping the future of Vice, a company that has been seeking a buyer over the past year.

email to staff. “Having been a journalist and media operator at large companies for my whole career, it’s time for me to strike out on my own, hang out a shingle, and start my own company.”Checker Media aims to create and invest in news, documentary and non-fiction projects and products.“Checker will develop and fund original Intellectual Property, as well as consult with companies and brands that have factual story-telling in their DNA,” Angelo’s release says.Angelo is the latest top executive to leave the media company, following former CEO Nancy Dubuc.

Nancy Dubuc revealed on Friday she was leaving Vice Media Group as CEO after five years. She will be replaced by Bruce Dixon and Hozefa Lokhandwala.

EXCLUSIVE: Nancy Dubuc is leaving Vice Media Group where she was CEO for the past five years. She just announced her decision to her staff in a memo (you can read it below.) It comes as the board has launched a process to sell — an acquisition of the whole company, a strategic recapitalization, or other transactions involving individual assets — under the oversight of a Special Board Committee. According to sources, Dubuc was at the end of her contract and decided it was time to move on.

Todd Spangler NY Digital Editor Nancy Dubuc announced in a memo to Vice Media Group staff Friday that she is leaving as CEO of the media company. Dubuc, who was previously CEO of A+E Networks and spent nearly 20 years at the cable programmer, was hired as chief exec of Vice Media in 2018, when company co-founder Shane Smith shifting to a new role as executive chairman. “It’s been an exhilarating five years since joining you at Vice, and I am incredibly proud of the important and long-lasting accomplishments we have made together,” Dubuc wrote in her farewell email. “[A]s the anniversary of my tenure approaches, it is so difficult to share that I have made the decision to move onto the next chapter.” (Read the full memo below)

said. “I’m excited to continue working with this team, which has been clicking together for over three years, to forge a holistic content strategy across all our consumer brands and distribution channels to drive continued audience and revenue growth.” Hertzan, a multiple Emmy and DuPont Award-winning producer, joined VICE in 2019 as an executive vice president and general manager of television at VICE TV.

Morgan Hertzan and Cory Haik have been promoted at Vice Media as Jesse Angelo has re-upped his contract.

Jennifer Maas TV Business WriterJonathan Bing has left his post as director of communications at Netflix to take the role of chief communications officer at Vice Media Group, Variety has learned.Based out of Los Angeles, Bing will lead Vice Media’s communications strategy across its portfolio of brands, including Vice News, Vice TV, Vice Studios and Refinery 29. He will head up Vice’s communications, brand, and reputation strategy globally “to reflect and deliver against the new ambitions for the business,” per the company.Most recently, Bing was head of communications at Netflix and previously senior vice president of communications for Fox Network Group.

EXCLUSIVE: Jonathan Bing is joining Vice Media Group as the new chief communications officer.

Vice Media Group revealed its 2022-23 programming slate showcasing live events, returning originals, and insights. Select offerings include 50 Years of Hip Hop, The Glow Up, and The Culture of Trust.

Vice boss Nancy Dubuc has praised her colleagues in the field in Ukraine as bombing continues in the capital Kyiv, while taking a swipe at traditional news coverage.

Manori Ravindran International EditorThe boys club that was once synonymous with Vice is quietly disbanding.A seismic shift in the work culture and make-up of Vice Media Group (VMG) under CEO Nancy Dubuc appears to be paying dividends, as per the company’s 2020 Diversity, Equity and Inclusion (DEI) report, which reveals that women now comprise over half of the Shane Smith-founded company’s global workforce.Shared exclusively with Variety, the report shows the number of people identifying as a

Dade Hayes Finance EditorVice Media Group has appointed veteran marketer Nadja Bellan-White to the newly created post of global chief marketing officer.The role unites marketing, branding and communications under a single executive for the first time.

Todd Spangler NY Digital EditorVice Media Group tapped Nadja Bellan-White, an ad agency and marketing exec with more than two decades of experience, to lead its brand-storytelling efforts globally.Bellan-White, previously based in the U.K., will work from Vice’s Brooklyn headquarters and will report to CEO Nancy Dubuc.

Alexandra Del Rosario Associate Editor/Nights & WeekendsThe Paley Center for Media has announced the lineup of CEOs, media heads and tech bosses set to join its 25th annual International Council Summit.

Alexandra Del Rosario Associate Editor/Nights & WeekendsThe Paley Center for Media has announced the lineup of CEOs,  media heads and tech bosses set to join its 25th annual International Council Summit.

Dade Hayes Finance EditorAmy Emmerich, chief content officer for Vice Media’s Refinery29, has exited the digital company, which has been unsettled by an investigation into its workplace culture and treatment of employees of color.In a brief memo to employees, Vice CEO Nancy Dubuc confirmed the move but did not allude to any larger context.During her five-plus-year run at the female-skewing Refinery, Dubuc wrote, “Amy has been passionately committed to building the brand and helping to shape its

Citing business challenges and a low return on investment from resources spent on producing content for digital platforms, Vice Media C.E.O. Nancy Dubuc announced plans on Friday morning for 155 employees to be laid off.

By Dade Hayes

By Todd Spangler

Citing business challenges and a low return on investment from resources spent on producing content for digital platforms, Vice Media C.E.O. Nancy Dubuc announced plans on Friday morning for 155 employees to be laid off.

By Todd Spangler

Condé Nast has named its first-ever global chief communications officer. Danielle Carrig will join the media company in the new role from Vice Media Group, where she led the communications strategy amid a period of transition under CEO Nancy Dubuc.