News Formal

Vice Media’s sale to Fortress Investment-led group gets court approval

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 92%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The investor group has agreed to pay about $350-million in the form of a credit bid for all of Vice Media’s assets and some of its liabilities

Online publisher Vice Media will be sold to a consortium led by Fortress Investment Group after the bankruptcy court approved its bid on Friday.

The investor group, which includes Soros Fund Management and Monroe Capital, has agreed to pay about $350-million in the form of a credit bid for all of the company’s assets and some of its liabilities. Popular with millennial audience through its websites Vice and Motherboard, Vice Media filed for bankruptcy protection last month in a move that capped years of financial difficulties and top-executive departures.

The Fortress-led group was the only “qualified” bid on the table, according to a legal filing on Thursday. “We believe represents the best path forward for VICE,” the media company’s co-chief executive officers, Bruce Dixon and Hozefa Lokhandwala, said in a statement.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fortress Investment Group reportedly set to acquire bankrupt Vice MediaWhile multiple bidders put in offers to acquire Vice Media, only Fortress’ bid was deemed ‘qualified,’ the New York Times reported on Thursday
Source: globeandmail - 🏆 5. / 92 Read more »

Marimaca Copper announces C$20 million strategic investment from MitsubishiA roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Ex-Goldman Sachs investment banker convicted of insider trading chargesA former Goldman Sachs investment banker was convicted of insider trading charges Wednesday after a weeklong trial.
Source: CTVNews - 🏆 1. / 99 Read more »

Investment in safer drug supply in OttawaThe federal government is investing nearly $2 million in a safer drug supply program in Ottawa. CTV's Natalie van Rooy has the details.
Source: ctvottawa - 🏆 29. / 67 Read more »

FP Answers: What are merger arbitrage investment strategies and are they tax efficient?Adding merger arbitrage strategies to an investment portfolio can offer several benefits, says one expert. Read on to find out more.
Source: financialpost - 🏆 7. / 85 Read more »