Vice Digital Properties Will Live on Under New Joint Venture; Vice News Not Part of Deal
09.05.2024 - 19:05
/ variety.com
Todd Spangler NY Digital Editor They’re not dead yet: Most of Vice Media Group‘s digital brands — including Vice.com — will be relaunched under a new joint venture formed by the struggling media company. But the future of Vice News remains uncertain. In February, Vice Media had announced that it would stop publishing content on consumer-facing digital outlets and the Brooklyn-based company laid off several hundred employees.
Now, under a new pact, most of those digital businesses will live on. Vice Media and Nashville-based Savage Ventures announced Thursday the formation of a joint venture and strategic partnership to “relaunch and grow” properties including Vice.com, Munchies, Motherboard and Noisey as well as all associated social platforms, YouTube channels and websites. The companies claim the combined portfolio has almost 100 million followers across all platforms.
It’s not immediately clear whether Vice Media staffers who were recently let go will be rehired under the new joint venture. However, Vice News is not part of the Savage Ventures JV. Vice Media said it “continues to have strategic discussions with leading global news organizations regarding Vice News and partnering to amplify the company’s multi-award-winning, long-form news and documentary content.” Terms of the deal between Vice Media and Savage Ventures were not disclosed.
The venture-capital company will invest “tens of millions of dollars” into the Vice digital businesses, a Vice rep told Axios. The once high-flying Vice Media last year announced a bankruptcy reorganization and sale to three of its lenders. Following steady layoffs and executive and staff departures, it has refocused on a business-to-business model, seeking to distribute its
.
The website celebfans.org is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can
send a complaint on the news if you find it unreliable.