Vice Media secures $ 250 million debt investment

Nancy Dubuc-led company has revealed a flurry of moves during its NewFronts presentation this week.

Vice Media has found new funding to burn the company's newly redesigned expansion plans.

Nancy Dubuc-led company has secured $ 250 million in debt from investment company 23 Capital and billionaire George Soros company Soros Fund Management and investment groups Fortress and Monroe Capital.

"With this capital investment, Vice Growth Plans can be accelerated so that we can carry out our new leader's strategic vision for the company," a deputy media spokesman said Friday.

The investment bank firm Guggenheim Securities, LLC was a financial advisor, and the law firm Shearman & Sterling was the Legal Advisor. The Wall Street Journal first reported the $ 250 million debt investment.]

This move marks the first round of financing for the company since it increased $ 450 million from the private equity firm TPG Capital in 201[ads1]7, when co-founder Shane Smith still had the title as CEO. At that time, Vice Media was said to be valued at $ 5.7 billion.

In March 2018, A + E Networks boss Dubuc was hired by Vice Me dia as his new CEO, with blacksmiths who take on the role of CEO.

The disclosure of a new funding round constitutes a flurry of features and news reports that the media company did during the NewFront marketing break in New York. They included moving websites such as food focused Munchies, music site Noisey, tech site motherboards and VICE News under the umbrella on the largest Vice website. Vice Media will no longer count partner sites as part of the total monthly traffic figures.

The investment also comes three months after the media company underwent a deal with cost savings, which meant that 10 per cent of the personnel were in place – about 250 jobs worldwide. Dubuc stated at that time: "After completing the 2019 budget, our focus shifts to achieving our goals and striking our ratings."

A representative attached Friday, "We have built one of the strongest global media companies out there, focused on content, talent and partnership across five core businesses – studio, news, television, digital and advertising agency Virtue. This strategic capital growth is one trust in our continued ability to grow our global, diversified footprint. "

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