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Search resuls for: "Nancy Dubuc"


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☆ Vice to lay off hundreds of staffers, stop publishing content on its website
  + stars: | 2024-02-22 | by ( Oliver Darcy | ) edition.cnn.com   time to read: +3 min
Ahead of the announcement Thursday, the mood inside Vice Media was grim. Vice Media, once a high-flying digital media startup valued at billions of dollars, has struggled immensely in recent years. The radical strategic shift announced by Dixon effectively marked the end of Vice Media as the industry has known it. Once held up as the future of the business, Vice Media has rapidly contracted over the last 12 months, ending several news programs and laying off staffers. Vice Media joins a long list of digital publishers that have announced painful layoffs in recent months.
Persons: Bruce Dixon, ” Dixon, Dixon, ”, Shane Smith, Nancy Dubuc, BuzzFeed Organizations: CNN —, Media, CNN, Vice Media, Fortress Investment Group, “ Locations: “
☆ Vice Media, once worth billions, set to be acquired out of bankruptcy by its creditors for $225 million
  + stars: | 2023-06-22 | by ( Oliver Darcy | ) edition.cnn.com   time to read: +2 min
CNN —Vice Media, the once-high flying digital media company valued at billions of dollars, is set to be acquired out of bankruptcy by three investment companies, including Fortress Investment Group, for $225 million. Bruce Dixon and Hozefa Lokhandwala, co-chief executives of Vice Media Group, informed staff of the decision in a memo Thursday morning. The acquisition agreement is the latest in a tumultuous period for Vice Media, which was once held up as the future of the business. Vice Media filed for Chapter 11 bankruptcy in mid-May. A person familiar with the matter told CNN that GoDigital was preparing to submit a bid between $300 million and $350 million.
Persons: —, Bruce Dixon, Hozefa Lokhandwala, ” Dixon, Lokhandwala, ”, Shane Smith, Nancy Dubuc, Monroe, GoDigital Organizations: CNN —, Media, Fortress Investment, Soros Fund Management, Monroe, Vice Media, “, Soros, GoDigital Media Group, CNN Locations: Fortress
☆ Once valued at nearly $6 billion, Vice files for bankruptcy
  + stars: | 2023-05-15 | by ( Claire Atkinson | Cheryl Teh | ) www.businessinsider.com   time to read: +4 min
Vice filed for bankruptcy, wiping out equity holders who poured in hundreds of millions, including TPG and James Murdoch. The company filed for Chapter 11 bankruptcy on Monday in New York's Southern District Court. The company's filing listed assets and liabilities in the range of $500 million to $1 billion. Vice had run multiple sales processes with a range of different banks but never received an offer palatable to its owners. The bankruptcy filing reveals just how many companies and investors pinned their hopes on Smith's hype about the potential growth trajectory of the TV and online venture.
☆ Vice staffers fear salary and severance payments could be impacted as the company moves closer to bankruptcy
  + stars: | 2023-05-09 | by ( Claire Atkinson | ) www.businessinsider.com   time to read: +4 min
Vice is expected to file for bankruptcy, and some staffers fear salary or severance payments could be affected. The WGA East represents the Vice Union and said it will work to ensure members receive "everything owed." Vice has cut dozens of staff along with canceling its cable show "Vice News Tonight." Last month Vice said it was axing "Vice News Tonight," which once aired on HBO but shifted in 2019 to Vice's own cable channel, Vice TV. A second Vice insider said: "Hundreds of people lose their jobs and Shane gets his back?
☆ Vice Media Prepares to File for Bankruptcy
  + stars: | 2023-05-02 | by ( Jessica Toonkel | Alexander Saeedy | ) www.wsj.com   time to read: 1 min
Vice Media had recently announced it would be restructuring its news division. Photo: Mario Tama/Getty ImagesVice Media is preparing to file for bankruptcy as soon as within the next several days, people familiar with the matter said, a move that would mark a major fall from grace for a once-hot media startup that was valued at $5.7 billion at its peak. Vice, whose assets include Vice News, Vice TV, Refinery29 and Motherboard, has struggled for years to find growth. The company has been looking to sell itself, but a deal hasn’t materialized, The Wall Street Journal previously reported. Its chief executive, Nancy Dubuc, departed earlier this year, and last week the company announced it would be restructuring its news division, ending its Vice World News Tonight show and shutting down the Vice World News brand.
☆ Vice Media cancels its flagship ‘Vice News Tonight’ program as it makes ‘painful’ layoffs and restructures the company
  + stars: | 2023-04-27 | by ( Oliver Darcy | ) edition.cnn.com   time to read: +3 min
New York CNN —Vice Media will cancel its acclaimed program “Vice News Tonight” as part of a broad restructuring that will result in painful cuts across the organization, the company said Thursday. The restructuring will have major implications on news teams at Vice Media. The company will sunset the Vice World News brand and fold its operations under the Vice News umbrella, giving the company a singular news brand. The restructuring comes as Vice Media, once the darling of the industry, explores a sale. CNN, The Washington Post, NPR, Gannett, Vox Media, NBC News, and others have also cut their workforces in recent months.
☆ Inside the demise of Vice, from turning away a $3.5 billion Disney offer to a 'painful' downward spiral that has the media giant scrambling for a buyer
  + stars: | 2023-03-21 | by ( Claire Atkinson | ) www.businessinsider.com   time to read: +19 min
The talks fizzled, Disney backed off, and Smith set off for California to drum up other interest in Vice Media. Vice Media Group co-CEOs Bruce Dixon, left, and Hozefa Lokhandwala. Vice Media GroupOne former Vice insider familiar with the current situation told Insider that staffers were warning vendors they needed to threaten to stop work in order to get paid. Just a few months later, Rupert Murdoch tweeted, "Who's heard of Vice Media? Refinery29 quickly lost key staff and was not well integrated into Vice Media, the two former staffers said.
☆ Vice Media names co-CEOs to replace veteran exec. Nancy Dubuc- NYT
  + stars: | 2023-02-27 | by ( ) www.reuters.com   time to read: 1 min
Feb 27 (Reuters) - Digital media firm Vice Media named co-chief executive officers to replace veteran television executive Nancy Dubuc who announced her departure last week, the New York Times reported on Monday. Chief Financial Officer Bruce Dixon and Chief Strategy Officer Hozefa Lokhandwala will helm the top role together, according to the Times. The company did not immediately respond to a Reuters request for comment. Reporting by Eva Mathews in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
☆ Vice Media CEO Nancy Dubuc Steps Down
  + stars: | 2023-02-24 | by ( Alexandra Bruell | ) www.wsj.com   time to read: 1 min
Before joining Vice Media, Nancy Dubuc was chief executive of A+E Networks. Vice Media said Chief Executive Nancy Dubuc is stepping down after five years, as the embattled media company faces a number of challenges amid a sale process. “Nancy joined VICE at a pivotal time and put in place an exceptional team that has positioned the company for long-term success,” the Vice Media board of directors said in a statement. The board will announce a new leader soon, it said.
☆ Vice Media CEO Nancy Dubuc is stepping down
  + stars: | 2023-02-24 | by ( Lillian Rizzo Alex Sherman | Lillian Rizzo | Alex Sherman | ) www.cnbc.com   time to read: +2 min
Nancy Dubuc notified Vice Media staffers on Friday that she's stepping down from her post as CEO after five years at the company. Dubuc joined Vice in 2018 after leaving her post as CEO of A+E Networks, where she had worked for 20 years. "We thank Nancy for her many contributions and will soon announce new leadership to guide VICE forward into its next stage of growth and transformation." Dubuc's departure comes as Vice, like its digital media peers, facing ongoing challenges with shrinking audience numbers and advertising. Still, Vice ended 2022 with a slight gain in revenue, although the business deteriorated among the macroeconomic headwinds, CNBC previously reported.
☆ Vice CEO Nancy Dubuc calls it quits after 5 years. Read her full memo to staff.
  + stars: | 2023-02-24 | by ( Claire Atkinson | ) www.businessinsider.com   time to read: +3 min
Vice CEO Nancy Dubuc is stepping down after a rocky tenure. Vice has struggled in recent years given the long shadow of its financial situation. Vice CEO Nancy Dubuc told staff in an email Friday that she is leaving the company after five years at the troubled, Brooklyn-based youth media giant. Read the memo Dubuc sent to staff on Friday:Dear Vice Media Group Team,I am writing today with bittersweet news. Despite all this the Vice, Vice Studios, Pulse, as well as Virtue, R29, i-D and Unbothered brands are strong.
☆ Vice owes FTI Consulting nearly $1 million, a new court filing alleges, one of multiple vendors chasing missed payments
  + stars: | 2023-02-24 | by ( Claire Atkinson | Jack Newsham | ) www.businessinsider.com   time to read: +4 min
Vice Media owes FTI Consulting nearly $1 million in fees, some dating back to 2019, a court filing alleges. FTI is one of several vendors who say they've gone unpaid by the youth media company. The filing alleges that Vice Holding, the parent of Vice Media, hired Washington, DC-based FTI Consulting to help it with accounting projects and management and then failed to pay its bills. Ironically, Vice hired FTI to help it with "profitability analysis" and to design "cash management" tools, according to the filing. Fortress lent Vice $30 million, according to the Wall Street Journal, which confirmed Vice is in a process to sell itself.
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