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Vice, an appropriately named nasty online publication aimed at young adults, is preparing to file for bankruptcy, according to multiple reports Monday — a move that would evaporate hundreds of millions of dollars from one of its investors, Disney.
As the bankruptcy clouds roll in, the publication is seeking a buyer, according to The New York Times.
While planning to write off at least $400 million, Disney might have dodged a bigger bullet: It considering buying Vice in 2015 for more than $3 billion, the Times reported.
In 2016, Vice had a market value of $5.7 billion, according to Vox.
Now it might be taken over by Fortress Investment Group, its biggest debtor, and spun off at auction.
While tight-lipped about its stake in the rogue publication, Disney admitted to investors in 2019 that it expected to get no return on the money it has put into Vice, according to Vox.
Once upon a time, it would have been unthinkable that Disney, a business that represented wholesome middle-class Americana, would have entangled itself with something like Vice.
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