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A wide presumption of ambiance astatine the VICE Kills TX Music Showcase during the 2013 SXSW Music, Film + Interactive Festival astatine Viceland connected March 16, 2013 successful Austin, Texas. (Photo by Hutton Supancic/Getty Images for SXSW)
Hutton Supancic | Getty Images
Vice Media has declared Fortress Investment Group's stalking equine bid of $225 cardinal the winning connection for the institution arsenic it emerges from bankruptcy.
Vice received aggregate bids for the company, but nary of them "rose to the level of being deemed a superior bid," according to an interior memo obtained by CNBC.
Closely held GoDigital submitted 1 of the bids astatine a $300 cardinal valuation, according to a idiosyncratic acquainted with the matter. Fortress wanted much currency successful the connection and had concerns astir GoDigital's funding, according to 2 radical acquainted with the matter, who asked not to beryllium talk publically due to the fact that the bidding details are private.
Fortress led a radical of creditors, including Soros Fund Management and Monroe Capital, that took implicit Vice retired of bankruptcy starring up to a imaginable auction for the institution this week. That auction won't instrumentality spot without outstanding credible bids.
Vice volition contiguous the merchantability to bankruptcy tribunal connected Friday and expects the acquisition to adjacent then, the institution said successful the memo.
The merchantability closes a section for the integer media institution that was valued astatine $5.7 cardinal successful 2017. Vice owns a bid of assets including Vice News, Vice Studios, Refinery29 and an advertisement bureau called Virtue.
Spokespeople for Vice, GoDigital and Fortress declined to comment.
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