BREAKING: Soros Takes Control Of Failed Liberal Media Network

Vice Media is close to finalizing a deal with senior lenders, including Fortress Investment Group and Soros Fund Management, to purchase the struggling media company out of bankruptcy for a valuation of approximately $400 million.

According to the Wall Street Journal, nearly all of Vice’s stockholders, including supporters such as TPG Group, Sixth Street Partners, and media magnate James Murdoch, would be completely eliminated. The plan would also impair the outstanding debts owed to TPG and Sixth Street. Notably, the Murdoch family is a significant shareholder in News Corp, the parent company of The Wall Street Journal.

Soros Fund Management is a hedge fund management company founded by George Soros. The firm manages the assets of the Soros family and a number of other institutional clients. Soros Fund Management was founded in 1969 and is based in New York City. On the other hand, Fortress Investment Group is an investment management firm that manages alternative assets in private equity, credit, and real estate. The firm is also based in New York City.

On May 1, news broke that Vice Media was reportedly preparing to file for bankruptcy, with a filing potentially coming in the coming weeks, according to sources.

The company’s $400 million valuation is a far cry from its previous valuation of nearly $6 billion in 2017 after a funding round from private equity firm TPG.