Vice owes nearly $10 million to tech consultancy Wipro, a new court filing alleges, as multiple vendors chase fees from the troubled media giant
Earlier in February, Vice tapped Fortress Investments, a distressed debt specialist for financial help. Fortress lent Vice $30 million,The Journal reported that Vice had also owed hundreds of thousands of dollars to two other companies, data firm Air.TV and opinion survey company Ranker.
Another vendor, IT provider eMazzanti, based in Hoboken, New Jersey, filed a civil claim against Vice on February 10 in the Superior Court of New Jersey over an unpaid bill for over $200,000 that had previously been part of arbitration. Vice had paid half of what was owed as part of an arbitration agreement, according to the filing, but had not paid the second half, leading eMazzanti to turn to the courts. A lawyer for eMazzanti had no further comment beyond the filing. An executive at Vice told Insider that the invoice had been paid in full in February.
Vice Media owns and runs a range of businesses, from a news operation housing sites like the Vice flagship and Motherboard to a network of cable and online channels around the world and content production companies Pulse Films and Vice Studios. It also owns woman-oriented digital outlet Refinery29, which it acquired in 2019 for $400 million. Together the two were valued at $3.6 billion in that deal.
The company, which has been looking to sell itself since spring 2022, was unable to secure a buyer at valuations in the $1.5 billion range. The last talks were with a Greek broadcasting company Antenna Group, which is also a shareholder. Vice's ownership structure involves a complex web of backers including James Murdoch, Fortress, and TPG.
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