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The rise and fall of Vice Media
Decoder with Nilay Patel
Restructuring and Leadership Issues at Vice Media
Vice Media filed for bankruptcy in May 2023, sold to Fortress for $350 million in August 2023, and transitioned into a production studio by February 2024. The delayed shift to a production studio raises questions on why it took Vice so long to make the change. The reorganization should have taken place immediately after bankruptcy to cut costs and become profitable quickly. The leadership's unclear vision and high executive salaries contributed to the company's downfall. Shane Smith's role, involvement in deal-making, and possible reacquisition of Vice highlight ongoing uncertainties about the company's future.
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