Vice hires advisors to seek buyer, may sell itself in pieces: sources

Vice Media, Digital Media Company Once worth $ 5.7 billionAccording to people familiar with the matter, they are hiring a banker to ask for a sale.

Some buyers have expressed preliminary interest in buying the deputy altogether, people familiar with the matter said. Finding a single buyer is an easier solution for the vice, but given the potential issues with valuation and the company’s outstanding debt, it is also looking for options to partially sell the company, People said.

information Report on friday Vice has purchased a content studio business and has nominated PJT Partners and LionTree as banks to support the company in the transaction.

Vice’s most desirable asset is with content studios Creative advertising agency, virtue, People said. The studio business includes Pulse Films. Deputy announced in March Previously acquired after owning only the controlling stock. Pulse has produced numerous popular music documentaries such as Beyonce’s “Lemonade” and “Beastie Boys Story”. According to one, the documentary film market is currently receiving particular attention in terms of sales and integration.

Deputy I tried to publish Last year, an agreement was reached with 7GC & Co Holdings via a special acquisition company.But after the market cooled and investors weren’t sold in the prospect of Vise as an independent public company, CNBC, plans to go public were stalled. Reported last year.

Vice was an early darling in the digital media industry, peaking in 2017 and with a $ 450 million investment from private equity fund TPG, the company’s value has reached nearly $ 6 billion. The vice president was aiming for a valuation of about $ 3 billion, including debt, when he tried to publish last year. If Vice agreed to a deal to sell the entire company, they would likely get a much lower price, the two said.The Wall Street Journal reported last year that Vice estimated it. Revenue reaches $ 1 billion By the end of 2023.

Vice is considering selling to seek investor liquidity and help repay its approximately $ 1 billion in debt.Disney is already Amortized $ 400 million investment in 2019 Expecting it will be worthless.

People said discussions with potential buyers were underway. The deal was not guaranteed and was not imminent, they said. One said TPG wasn’t interested in buying all of Vice and instead aimed to monetize part of its investment.

“Currently, the market is very active in studio space and we have built a large global world-class studio business that creates inquiries. If you have such an interest, for investors. We need to consider it, “said a deputy spokesman. .. “Other than that, I have nothing to comment on.”

A TPG spokesman declined to comment.

Deputy I also own a news site And other digital media assets (including Refinery29) Acquired for $ 400 million in 2019. Digital media companies such as BuzzFeed and Vox Media have been consolidating their assets in recent years and have the potential to become potential buyers of these assets, one said.

See: Vice Media CEO Nancy Dubai talks about the company’s future