kruis
Exposing the sinister cartel of retailers who allow companies to pay for advertising space.
The news just broke that Vice.com is shutting down. The BBC reported that Vice Media plans to cut hundreds of jobs as it stops publishing on Vice.com, according to a memo from chief executive Bruce Dixon. In May, the firm filed for bankruptcy in the US and was bought by Fortress Investment Group.
Mr Dixon said Vice plans to "partner with established media companies to distribute our digital content". Media firms including Channel 4, Los Angeles Times, and Business Insider have also cut jobs this year. Mr Dixon said "it is no longer cost-effective for us to distribute our digital content the way we have done previously," in the memo seen by the BBC. "Regrettably, this means that we will be reducing our workforce, eliminating several hundred positions," he said.
The company continues to sell the business, according to Mr Dixon who said the announcement will be made in the coming weeks.
Internet users have been devastated at this blow to quality news reporting.
Mr Dixon said Vice plans to "partner with established media companies to distribute our digital content". Media firms including Channel 4, Los Angeles Times, and Business Insider have also cut jobs this year. Mr Dixon said "it is no longer cost-effective for us to distribute our digital content the way we have done previously," in the memo seen by the BBC. "Regrettably, this means that we will be reducing our workforce, eliminating several hundred positions," he said.
The company continues to sell the business, according to Mr Dixon who said the announcement will be made in the coming weeks.
Vice Media stops publishing on website and cuts hundreds of jobs
Vice Media Group filed for bankruptcy in May and was bought by Fortress Investment Group.
www.bbc.com
Internet users have been devastated at this blow to quality news reporting.
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