Soros group, major lender near deal to buy out Vice media: report

Reports emerged earlier this week that the company was preparing to file for bankruptcy.

By Ben Whedon

Published: May 5, 2023 10:52pm

Fortress Investment Group and Soros Fund Management are reportedly in negotiations to purchase Vice Media as the firm prepares to file for bankruptcy.

Both backers of Vice, the firms will reportedly purchase the outlet for roughly $400 million, the Wall Street Journal reported on Friday. The company was once valued as high as $5.7 billion, Variety noted.

Reports emerged earlier this week that the company was preparing to file for bankruptcy, with company announcing that "Vice Media Group has been engaged in a comprehensive evaluation of strategic alternatives and planning. The company, its board and stakeholders continue to be focused on finding the best path for the company."

Fortress is the platform's largest debtholder.

Soros Fund Management meanwhile was created by left-wing megadonor George Soros, who has attracted scrutiny from conservatives over his support for progressive candidates and causes.

Ben Whedon is an editor and reporter for Just the News. Follow him on Twitter.