Vice Media, which has owned and operated Vice TV, the cable network that airs Dark Side of the Ring filed for chapter 11 bankruptcy on Monday.
According several media outlets, the filing came as the company prepares to sell essentially all of its assets to a Lender Consortium that is made up of Fortress Investment Group, Soros Fund Management and Monroe Capital. The company did previously report $500 million to $1 billion in assets. As of this writing, media outlets are reporting that the sale has as of now has yielded only $225 million in the form of a credit bid.
Sources, per several media entities are reporting the sale is expected to be completed within the next three months. All brands including Vice, Vice News, Vice TV, Vice Studios, Pulse Films, Virtue, Refinery29 and i-D are expected to continue operating and producing content as usual. In addition, the company did note that its international entities as well as Vice TV’s joint venture with A&E were not part of the bankruptcy filing.