Vice Media, once a digital video upstart formerly valued at nearly $6 billion, has filed for bankruptcy protection.
Vice Media, once a digital video upstart formerly valued at nearly $6 billion, on Monday filed for bankruptcy protection.
Vice launched in Montreal, Canada, in 1994 as a free magazine focused on alternative music and culture. Backed by money from other media companies as well as blue-chip Silicon Valley investors, the company eventually branched into online video and documentaries catering to millennials. Shane Smith once quippedAccording to its Chapter 11 filing, Vice has assets and liabilities ranging from $500 million to $1 billion.
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