With the announcement of Vice Media heading for bankruptcy two weeks ago, the company has confirmed to file for bankruptcy.
Vice Media has officially filed for bankruptcy. Should no company step forward to acquire Vice Media, Fortress Investment Group and Soros Fund Management are currently in the position to grab the company. They have given a bid of $225 million and have said that they will take over “significant liabilities” from Vice should any deal they have closes.
Operations for Vice and their businesses will still continue even with the bankruptcy. Websites and other divisions like Virtue, Vice’s advertisement agency, Refinery29m and Pulse Films will also continue their operations during this.
Vice Media is another digital-media company that has filed bankruptcy this year. Similar to Vice, BuzzFeed News has shut down their operations last April 21.
YugaTech.com is the largest and longest-running technology site in the Philippines. Originally established in October 2002, the site was transformed into a full-fledged technology platform in 2005.
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