Vice has focused on diversifying its revenue streams in recent years, expanding its Vice Studio business; its ad agency, Virtue; and its global news gathering division. Those units have helped the company improve its financial results and achieve profitability during some quarters last year, a person familiar with the matter said.
On Thursday, Vice Media announced that it had garnered 33 Emmy nominations in the news and documentary category.
The Information reported earlier that Vice had hired advisers to explore a sale of its studio business. CNBC reported that Vice Media was exploring a sale of its entire business, and The Wall Street Journal reported that Group Black, a media company focused on Black ownership, was exploring a deal for Vice.
Vice, like many digital news companies, last year explored a plan to go public through a deal with a special purpose acquisition vehicle, which had been seen as an easier way to take a company public than a traditional initial public offering. But enthusiasm on Wall Street for SPACs waned, in part because of the poor performance of many of the companies that used them to go public, and Vice instead raised money from investors.
Article source: https://www.nytimes.com/2022/07/29/business/media/vice-media-antenna-group.html
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