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Vice Media is likely to be sold to a group of buyers that includes Soros Fund Management, one of the enterprises of left-wing billionaire George Soros, according to a new report.
Fortress Investment Group, a senior lender with Vice, also would be in on the deal, which first would involve Vice filing for Chapter 11 bankruptcy protection followed by a sale, according to a report in The Wall Street Journal on Friday.
The Journal estimated the deal to be worth about $400 million, but a report in The Guardian suggested the final valuation on Vice could be between $300 million and $350 million.
In writing about the Soros connection, the Washington Free Beacon noted it would “boost the billionaire’s already enormous influence in left-wing politics and media.”
The Wall Street Journal reported that Vice stockholders — including private-equity firm TPG Group, Sixth Street Partners and media mogul James Murdoch — would be “wiped out under the proposed reorganization.”
The New York Times noted that at its peak, Vice was valued at $5.7 billion.
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