Group announces hundreds of layoffs and talks about transition to “studio model”

Vice Media Group CEO Bruce Dixon, owner of the magazine Vice, announced on Thursday (22.Feb.2024) that it will stop publishing on the website and lay off hundreds of employees. Here is the full statement (PDF – 748 kB).

We will look to partner with established media companies to distribute our digital content across their global platforms as we transition fully to a studio model. As part of this change, we will no longer publish on“, Dixon said.

The group, which was once worth US$5.7 billion, was purchased in August 2023 by a consortium of Fortress Investment Group, for US$ 350 million, after being rescued from bankruptcy.


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