A group of buyers including Fortress Investment Group is set to take over Vice Media after bidding $225-million for the bankrupt company, the New York Times reported on Thursday, citing people familiar with the matter.
While multiple bidders put in offers to acquire Vice, only Fortress’ bid was deemed “qualified”, according to the report, which added that a bankruptcy auction for the company scheduled for Thursday will be called off. Vice Media, popular for websites such as Vice and Motherboard, filed for bankruptcy protection last month, capping years of financial difficulties and top-executive departures.
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