“VICE serves a huge global audience with a unique brand of news, entertainment and lifestyle content,” VICE’s Co-CEOs Bruce Dixon and Hozefa Lokhandwala said in the press statement. “This accelerated court-supervised sale process will strengthen the Company and position VICE for long-term growth, thereby safeguarding the kind of authentic journalism and content creation that makes VICE such a trusted brand for young people and such a valued partner to brands, agencies and platforms.”

They continued, “We will have new ownership, a simplified capital structure, and the ability to operate without the legacy liabilities that have been burdening our business. We look forward to completing the sale process in the next two to three months and charting a healthy and successful next chapter at VICE.”

VICE Media Group

Sign up for our daily Newsletter.