Vice Media, the company behind Vice TV’s Dark Side of the Ring, is reportedly restarting its sale process. Talks with Greek broadcast company Antenna Group stalled out recently.
CNBC reports that the media company is restarting the process after interested parties held off due to the initial price tag of $1 billion to $1.5 billion. The report notes that Vice Media is now on sale for less than $1 billion, a major drop-off for a company that was worth $5.7 billion in 2017.
It was noted back in December that Vice would miss its projected revenue for 2022 by about $100 million. Experts knew then that this could potentially impact its sales process. Vice had been in talks with Antenna Group at that time, but those talks stalled in the past several weeks. Antenna will likely be interested once more now that the process has restarted.
Reps for Vice Media, Antenna, and Fortress Investment Group, one of Vice’s lenders who are driving the sale process, declined to comment.
