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31.07.2023 - 14:03 / variety.com
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.
The recently installed co-CEOs of Vice Media Group heralded the deal close as “the start of an exciting new chapter” for the Brooklyn-based company. Vice Media filed for Chapter 11 bankruptcy protection in May, after months of struggling to pay its bills.
It’s a fire sale for the company, which in 2017 had boasted a valuation of $5.7 billion. The bankruptcy and sale was set to “wipe out” the value of most of Vice’s other shareholders, including private-equity firm TPG Group and James Murdoch (who invested in the company via his Lupa Systems investment firm), the Wall Street Journal previously reported.
“With the support of our investor group, we now have the resources to strengthen our business, our partnerships and our content creation across all platforms,” Bruce Dixon and Hozefa Lokhandwala, Vice’s co-CEOs, said in a statement. “Under new ownership and with this leadership team, Vice is positioned to drive our uniquely differentiated brand of news, entertainment and lifestyle content that makes Vice a trusted brand for global audiences and a valued partner to brands, agencies and platforms.” The cash-strapped company previously had been seeking a buyer, with no success.
In February 2023, Nancy Dubuc announced her exit as CEO after almost five years after which Vice named longtime execs Dixon and Lokhandwala as co-CEOs. The investment firms that now own Vice
.End of Summer Sale. Just in time to add some new shoes to your end-of-summer footwear rotation, the Zappos sale is offering major savings on thousands of trending styles.
Nick Viall is spilling the beans on his “Special Forces: World’s Toughest Test” co-star Tom Sandoval.
Several of Hollywood’s highest paid stars have donated money to the SAG-AFTRA Foundation’s Emergency Financial Assistance Program for actors who may be struggling to make ends-meat right now due to the actors’ strike.
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Leonine’s Fred Kogel To Be Feted In Zurich
Vice Media announced a series of leadership changes on Tuesday, a day after its bankruptcy sale was closed.
Todd Spangler NY Digital Editor Vice Media Group, the day after closing its sale following its Chapter 11 bankruptcy proceeding, has made changes to its top editorial ranks. The personnel changes were announced by Cory Haik, chief operating officer of Vice Media’s news and entertainment group, in a memo to staff Tuesday, who said they were part of “usher[ing] in an era of rebuilding and focusing on growth across Vice.” Exiting the company are Katie Drummond, senior VP, global news and entertainment; Jason Koebler, editor in chief of Vice’s Motherboard technology publication; and Motherboard executive editor Emanuel Maiberg.
Kristen Doute, Jax Taylor and Brittany Cartwright are making their highly anticipated return to Bravo on the network’s upcoming Vanderpump Rules spinoff series.
Vice Media is putting bankruptcy, and years of seeking a buyer and fresh cash, behind it, as the edgy digital news and lifestyle brand announces today it’s completed the sale to a consortium of former lenders led by Fortress Investment Group, Soros Fund Management and Monroe Capital.
Jem Aswad Executive Editor, Music Harry Styles’ world-shaking “Love on Tour” wrapped before a crowd of 100,000 people at Italy’s RCF Arena last week, concluding 173 dates over nearly three years. The tour launched on September 4, 2021 and saw Styles performing to 5.04 million fans in North and South America, the U.K., Europe and Australia — including 20 dates at Madison Square Garden, 18 at the Los Angeles Forum, six at London’s Wembley Stadium, and two sets of “Harryween” concerts — and is the fourth highest-grossing tour of all time, according to the announcement.
We’re anxiously awaiting season 11 of Vanderpump Rules!
SAG-AFTRA has granted more waivers in recent days that give permission to indie projects to shoot during the current strike, including the independent film The Summer Book starring Glenn Close. Other recent projects that will be allowed to shoot include the TV series Underdeveloped and Sight Unseen.
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Bethenny Frankel has some advice for Raquel Leviss.
Scheana Shay and Lala Kent are defending themselves. After a photo surfaced on Instagram of some of the cast posing with Tom Sandoval following his cheating scandal, the friends took to Instagram to speak out about the situation.A fan snapped the picture with the cast during their trip to Lake Tahoe, which is being filmed and will be featured on season 11 of the show.The shot — which also includes Tom Schwartz, James Kennedy, Ally Lewber and Brock Davies — features Shay standing next to Sandoval with her arm around him.That fact irked fans who are still reeling from the news that Sandoval cheated on his longtime girlfriend, Ariana Madix, with Raquel Leviss, who has started going by her birth name, Rachel, in the wake of the scandal.«I don't know why I feel the need to defend taking a photo with my hand [in a fist] in the back of someone,» Shay began, before Kent chimed in, saying, «People are so stupid.»«It still blows that people don't realize we're filming a show,» Kent said. «And it was that girl's birthday.
Marie Amachoukeli’s Ama Gloria has won the Best International Film Prize at the 40th edition of the Jerusalem Film Festival, running from July 13 to July 26.
Raquel Leviss is out and about in the world once more after checking out of a sustained treatment program at a mental health facility. But she’s NOT taking part in the latest Vanderpump Rules cast trip…
Scheana Shay and Lala Kent are sending a message to Vanderpump Rules fans who don’t understand why they are spending time with Tom Sandoval following his affair with Raquel Leviss.
With season 11 production underway, Ariana Madix and Tom Sandoval have seemingly managed to avoid one another in front of the cameras so far — but one Vanderpump Rules exec isn’t sure the pattern can continue.
New Regency said today it’s closed a $175 million term loan from global investment firm Carlyle Group, providing new capital for the indie to scale up production. The loan is a refinancing and upsize of an existing Carlyle facility.