VICE Media, once touted as the largest independent youth-driven media brand globally, has ceased publishing on vice.com after almost three decades.
In a memo to staff issued just before the close of business Thursday, VICE CEO Bruce Dixon announced the elimination of “several hundred” positions, saying it’s no longer “cost-effective” to distribute its digital content in the traditional way.
“Moving forward, we will look to partner with established media companies to distribute our digital content, including news, on their global platforms, as we fully transition to a studio model,” Dixon told employees. “As part of this shift, we will no longer publish content on vice.com, instead putting more emphasis on our social channels as we accelerate our discussions with partners to take our content to where it will be viewed most broadly.”
Dixon said Refinery29, the fashion and beauty blog VICE acquired in 2019, will continue to operate as a standalone business, with the company “in advanced discussions” to sell.
Founded in Montreal in 1996, by Suroosh Alvi, Shane Smith and Gavin McInnes, the company – once valued at $5.7 billion – filed for bankruptcy last May and was acquired by Fortress Investment Group for $350 million in June. Fortress and other hedge fund investors in American newspapers have been tied to the layoffs of thousands of journalists and an erosion of local content.
VICE made a previous round of layoffs last fall, consolidating its five operating divisions to two, and reducing its global workforce to around 900 employees from what at the company’s high point was purportedly a staff of 3,000. It had previously downsized its Canadian staff on several occasions, including closing its Montreal office in 2019, accompanied by successive rounds of layoffs in Toronto. TikTok acquired VICE’s Liberty Village office space during the pandemic.
The Canadian Media Guild (CMG), which represents 27 unionized VICE staff in Canada, said the union is in communication with those employees as they navigate impending layoffs.
CMG President Annick Forest told Broadcast Dialogue that they expect to receive more information from the employer next week.
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