Vice Media plans to cut hundreds of jobs as it stops publishing on Vice.com, according to a memo from chief executive Bruce Dixon.Mr Dixon said "it is no longer cost-effective for us to distribute our digital content the way we have done previously," in the memo seen by the BBC.
The company continues to sell the business, according to Mr Dixon who said the announcement will be made in the coming weeks., a procedure which postpones a US company's obligations to its creditors, Vice announced previous layoffs by shutting down its flagship TV programme. The company was valued at $5.7bn in 2017 and was once heralded as part of vanguard of companies set to disrupt the traditional media landscape with edgy, youth-focused content spanning print, events, music, online, TV and feature films.
The firm's production included My Journey Inside the Islamic State, in which a Vice journalist filmed alongside the terror group in Syria. Vice also followed basketball star Dennis Rodman and the Harlem Globetrotters team on a "sports diplomacy" trip to North Korea.