Read previewVice Media is in the process of shutting down its website and shifting focus to its studio, which will involve laying off hundreds, CEO Bruce Dixon wrote in a staff memo Thursday.
Vice is also in the process of selling the woman-aimed site Refinery.com, which it acquired in 2019, Dixon wrote.
In addition to its flagship Vice.com, Vice Media operates Vice Studios, a film and TV production business; and ad agency Virtue.
However, it is no longer cost-effective for us to distribute our digital content the way we have done previously.
Separately, Refinery 29 will continue to operate as a standalone diversified digital publishing business, creating engaging, social first content.
Persons:
—, Bruce Dixon, Dixon, Vice.com, Shane Smith, Bruce
Organizations:
Service, Business, Fortress Investment, Vice Media, Vice Studios, Employees