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Search resuls for: "Craig Greiwe"


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(Photo by Hutton Supancic/Getty Images for SXSW)Vice Media has declared Fortress Investment Group's stalking horse bid of $225 million the winning offer for the company as it emerges from bankruptcy. Vice received multiple bids for the company, but none of them "rose to the level of being deemed a superior bid," according to an internal memo obtained by CNBC. Vice will present the sale to bankruptcy court on Friday and expects the acquisition to close then, the company said in the memo. The sale closes a chapter for the digital media company that was valued at $5.7 billion in 2017. Vice owns a series of assets including Vice News, Vice Studios, Refinery29 and an ad agency called Virtue.
Persons: Hutton Supancic, Fortress, GoDigital, Craig Greiwe, Spokespeople Organizations: Media, Investment, CNBC, Soros Fund Management, Monroe Capital, News, Vice Studios, Cannes Lions Locations: Viceland, Austin , Texas
Vice Media Group logo Pavlo Gonchar | Lightrocket | Getty ImagesWhen Suroosh Alvi, Gavin McInnes and Shane Smith founded Vice magazine, which later expanded to Vice Media, they built a business based on a punk rock, counterculture image. GoDigital Media Group is a privately held conglomerate that owns video and music rights, especially in the Latin genre, and an array of different businesses. GoDigital plans to bid for Vice on Tuesday at a price between $300 million and $400 million, according to people familiar with the company's thinking. He will preach that message to Vice's employees on Day One if GoDigital acquires the company, he said. Smith, Vice's executive chairman and former CEO, couldn't be reached for comment.
Persons: Pavlo Gonchar, Suroosh Alvi, Gavin McInnes, Shane Smith, Smith, Jason Peterson, Logan Mulvey, GoDigital, Jason DeRulo, Peterson, Berkshire Hathaway, what's, Mulvey, John Leguizamo, Craig Greiwe, Sean, Diddy, Combs, couldn't, haven't, ' Peterson, Alex Wallace, Wallace, Gay Hendricks, We're, Adam Neumann's, I'm Organizations: Media, Lightrocket, Vice Media, GoDigital Media, Berkshire, Eastern Mountain Sports, NGL, Fortress Investment, Soros Fund Management, Monroe Capital, Fortress, Yahoo, CNBC Locations: Brooklyn , New York, Los Angeles
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