Vice Media reportedly headed toward bankruptcy

The digital media company Vice, which was once valued at nearly $6 billion, is reportedly preparing to file for Chapter 11 bankruptcy.

The company went on to attract investments from major television companies like The Walt Disney Company, 21st Century Fox and A&E Networks. However, Vice eventually succumbed to the loss of interest in digital media companies and has failed for years to turn a profit, prompting investors like Disney to write down their contributions.Investors valued the organization at $5.7 billion in 2017, but Vice reportedly missed its revenue target that year by more than $100 million. Now the company is reportedly struggling to sell its assets for more than $1 billion.

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