What the potential bankruptcy of Vice Media means for Australian partners

After nearly 30 years, Vice Media – parent of brands such as Vice News, Motherboard, Refinery29, and Vice TV – is preparing to file for bankruptcy, according to The New York Times. 

In February, the company took on a $US30 million loan whilst it searched for a buyer, however so far, none have come forward. 

Three people familiar with the matter told the publication that the filing could be coming within weeks, however, weren’t able to speak to the specifics on record. 

On Twitter, Vice journalist Gavin Butler wrote that “After almost 5 years, my time at Vice is over. I was laid off last week along with the entire Asia-Pacific news team and countless brilliant colleagues around the world. It's been a privilege working with some of the best in the business. I'm so proud of everything we achieved.

“The closure of Vice's APAC newsroom is a devastating loss in a region that desperately needs more global media attention. Our small team covered 60% of the world. There are so many stories here that deserve to be heard.

“I'm incredibly grateful for the past 5 years, and excited for what's next.”

After almost 5 years, my time at VICE is over. I was laid off last week along with the entire Asia-Pacific news team and countless brilliant colleagues around the world. It's been a privilege working with some of the best in the business. I'm so proud of everything we achieved.

— Gavin Butler (@gav_butler) May 1, 2023

In Australia, Nine Publishing reported earlier this week that SBS has “lost a flagship news show from its Viceland channel” in Vice News Tonight, after Vice Media Group made cuts to the world news division. 

Mediaweek reached out to Channel Nine, whose Pedestrian masthead has a long-term partnership with Vice as the exclusive publishing and commercial partner for Vice Australia. Nine confirmed that the closure of the Vice APAC newsroom would have no effect on the deal.