Mr. Lokhandwala and Mr. Dixon said in their note that they expected the sale to close in July; the company would then begin operating under new ownership.
In the past, bidders sought to acquire Vice Studios, the film and TV production business; Virtue, its ad agency; and i-D, one of the company’s magazines.
Vice, which had unsuccessfully sought to sell itself for years, filed for bankruptcy in May, with Fortress, as one of its lenders, in pole position to take over the company.
It had since sought run a sale of the business in bankruptcy to see if it could kick up further interest.
As the sale process proceeds, Vice has some pressing issues to sort out.
Persons:
”, Lokhandwala, Dixon, “
Organizations:
Fortress, Vice, “ Bama, American Gladiators, ESPN