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Vice Media said in an internal communication Thursday that a group of buyers including Fortress Investment Group, Soros Fund Management and Monroe Capital, will acquire Vice.
Vice Media, which last month entered Chapter 11 bankruptcy, is due to be bought out for $225million by its past lenders, led by Fortress Investment Group.
Vice Media will be acquired by Fortress Investment Group and other creditors for $225 million.
Vice Media will be acquired by Fortress Investment Group and other creditors for $225 million.
Fortress Investment Group’s stalking horse bid of $225 million has been declared the winning offer for Vice Media as the company exits bankruptcy. Despite receiving multiple offers, none were deemed superior to Fortress’s bid, CNBC reported citing an internal memo. GoDigital presented one of the bids at a $300 million valuation. However, Fortress desired more cash and had reservations about GoDigital’s funding. “Our offer was significantly more than the stalking horse bid by the sellers,” GoDigi