Vice reportedly preparing to file for bankruptcy

While the company has several reportedly interested purchasers, the Times painted the prospect of a sale as "increasingly slim."
Bankruptcy

Digital media outlet Vice is reportedly preparing to file for bankruptcy.

The company is seeking a buyer to avoid such a filing, but "three people familiar with the matter" told the New York Times that the bankruptcy filing could occur in the coming weeks.

While the company has several reportedly interested purchasers, the Times painted the prospect of a sale as "increasingly slim."

"Vice Media Group has been engaged in a comprehensive evaluation of strategic alternatives and planning," the company said Monday. "The company, its board and stakeholders continue to be focused on finding the best path for the company."

At its height, the company was worth billions and had successfully convinced major media firms such as Disney to invest, though its finances have taken a considerable downturn in recent years.

Fortress Investment Group stands as the outlet's largest debtholder and could conceivably assume control of ViceĀ  in the event of a bankruptcy filing, per the NYT.

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