Vice And Motherboard Owner Files for Bankruptcy

The company behind the websites Vice and Motherboard has filed for bankruptcy in the US and is set to be sold to a group of its lenders. <br />Vice Media Group which was once valued at $5.7bilion could be taken over for $225m. <br />The youth-focused digital publisher says it will continue to operate during the bankruptcy process. <br />It added that it expects to emerge as a financially healthy and stronger company in two to three months. <br />Launched in 1994 as a fringe magazine called Voice of Montreal by Shane Smith, Gavin The lenders have approved $20m of funding to keep Vice Media going through the bankruptcy process. During this time, other firms can submit "higher or better" bids for the media company. <br />