Vice group co-CEO Bruce Dixon has announced that the company is to make several hundred lay-offs and will no longer publish content on Vice.com.
In a memo to staff, Dixon said that Vice will “look to partner with established media companies” to distribute its digital content, including news, on their global platforms and “fully transition to a studio model”.
He added that it was still in “advanced discussions” to sell the business, with more announcements on the latter expected in the coming weeks.
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Michael Brown, managing partner and UK and EMEA head of insight and research at UM, told The Media Leader: “Vice going offline is a big loss for media and it marks a concerning continued trend towards alternative media environments becoming commercially unviable — and, therefore, our media landscape becoming less interesting.” This was a theme that Brown explored last year following the closure of gal-dem.
Read more on The Media Leader.