Dark Side of the Ring Home Vice Media Group Prepping to File for Bankruptcy

– Deadline reports that Vice Media Group, the digital media and broadcasting company, is preparing to file for bankruptcy. The company is said to be considering the move after struggling to find a buyer. Vice Media group is made up of the website Vice.com, Vice Studios, VICE TV, Vice News, and creative service agency Virtue. VICE TV is the home network of the popular wrestling docuseries, Dark Side of the Ring, which is also produced by Vice Studios.

Deadline notes that the company was once valued at $5.7 billion in 2017. The company has been undergoing a tumultuous year. Nancy Dubuc exited her position as CEO of the company earlier this year, with Bruce Dixon and Hozefa Lokhandwala serving as her replacements. Global President of News & Entertainment Jesse Angelo also left this year to launch his own production company.

In a statement to The New York Times, Vice Media noted that the company is engaging in “a comprehensive evaluation of strategic alternatives and planning.”

The company is reportedly still searching for a new buyer, which still has the potential to happen in the coming weeks. Fortress Investment Group is Vice Media’s largest debt holder. If Vice Media files for Chapter 11, Fortress would likely be the party that would control the business.

Vice was founded in 1994 as a magazine before expanding into a multimedia outlet with a linear channel, television production, a website, and a creative agency.

Last month, VICE TV announced that Dark Side of the Ring Season 4 will debut on the network on May 30. Season 4 is expected to consist of 10 episodes.