Originally published at: VICE Media Prepares to File for Bankruptcy | Infostormer.com
VICE Media which was once worth billions of dollars is reportedly preparing to file for bankruptcy.
🚨 VICE media, once worth $5.7 billion, preparing to file bankruptcy pic.twitter.com/6GYoSMbIwM
— Insider Paper (@TheInsiderPaper) May 2, 2023
They previously announced job cuts before this news broke.
JUST IN – Vice Media cancels its flagship 'Vice News Tonight' — expected to cut more than 100 jobs
— Insider Paper (@TheInsiderPaper) April 27, 2023
This comes after BuzzFeed News announced that they were closing their operations.
These shitlib Internet media companies required an extreme amount of overhead to maintain and in this economic environment, they have become financially unviable. Unless these companies are attached to a separate business or are owned by a billionaire etc.. they are not profitable ventures.
I mean pushing lies and propaganda is hard enough, but they’re also competing against independent bloggers and other people who are at least attempting to tell the truth. So as a result of all of this, it is not a surprise to see them go under.