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Its rapid downfall underscores the challenges facing digital media companies, which are struggling as advertisers cut spending during an uncertain economy.
The developments cap a tumultuous few months for the firm, which began as an alternative magazine in Montreal nearly three decades ago.
Vice Media Group is reportedly preparing to file for bankruptcy in the next few weeks. Quoting the New York Times, Reuters adds that five companies are interested in the group and it could be sold to avoid bankruptcy. Should that happen, it could end being controlled by its debtholder Fortress Investment Group. In late April…