CNN —Vice Media, the one-time digital media darling that has seen its value and influence greatly diminish in recent years, moved on Thursday to further hollow out its once prestigious news division, shutting down several shows and laying off dozens of staffers.
“To be clear, Vice News is not going away,” the company’s co-chief executives, Bruce Dixon and Hozefa Lokhandwala, said in a memo to staff obtained by CNN.
“Vice will continue to produce digital news, as well as Vice News documentaries, both series and films, for FAST Channels, streaming services and other partners.”In April, Vice Media ended “Vice News Tonight,” its flagship program, citing restructuring that would result in cuts across the organization, CNN previously reported.
In June, the digital media company was purchased by three investment companies, including Fortress Investment Group, for $350 million.
A person familiar with the matter said “less than 100” staffers would be laid off.
Persons:
“, Bruce Dixon, Hozefa Lokhandwala, ”, Dixon, Lokhandwala, CJTtiYXJML —, ” CNN’s Oliver Darcy
Organizations:
CNN —, Media, CNN, “, FAST, Fortress Investment, Union, Company