How Stitch Fix Fumbled a Make-or-Break Pivot Read Now

Vice CEO Nancy Dubuc. Photo by Bloomberg.
Exclusive

Vice Media Is Exploring Sale of Studio Business

Photo: Vice CEO Nancy Dubuc. Photo by Bloomberg.

Vice Media is exploring the possible sale of its studio business, looking to take advantage of rising valuations for production companies in recent months. But a sale of the business would deprive Vice of its biggest business and would raise questions about the future direction of the firm.

The media firm is working with investment bank PJT and LionTree to explore the sale of the studio, said people familiar with the situation. Vice has struggled for several years to turn profitable and it faces pressure from investors, including TPG, to repay $1.1 billion in debt it owes. The move follows several deals done for production companies, including Reese Witherspoon’s production firm Hello Sunshine, as the expansion of the streaming market has driven demand for content.

The studio unit, which is Vice’s biggest business by revenue contribution, makes documentaries, movies and podcasts for streaming services which in the past have included Hulu and Spotify. The studio recently acquired full ownership of Pulse Films, the producer of “Gangs of London.” Vice also owns the Virtu ad agency, a news website and a cable channel called Viceland.

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
Exclusive E-commerce
How Stitch Fix Fumbled a Make-or-Break Pivot
Elizabeth Spaulding, CEO of Stitch Fix. Photo by Bloomberg.
Stitch Fix planned to revive sales growth by turning its original strategy on its head. Inside the company, there were warning signs that the effort would struggle. The retailer, which is best known for sending customers five-piece boxes of clothes and accessories picked out by stylists, hoped to broaden its appeal by using algorithms to recommend items for people to buy directly online. But a...
Latest Briefs
 
Celsius Mining Confidentially Files for Public Listing
Shanghai Aims For Return to Normal June 1 After Covid Lockdown
Musk Says Twitter’s Legal Team Accused Him of Violating NDA
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
GoPuff founders Yakir Gola, left, and Rafael Ilishayev. Photos by Getty, Bloomberg.
Exclusive Venture Capital Startups
Gopuff Founders’ Ambitions Falter as Startup Bleeds Cash
Delivery firm Gopuff emerged as one of the hits of the pandemic shutdowns, fetching a $15 billion valuation thanks to its network of couriers delivering snacks and convenience items like chips, Tylenol and laundry detergent.
IRL CEO and Co-founder Abraham Shafi. Art by Mike Sullivan
Exclusive Startups
SoftBank-Backed Messaging App IRL Says It Has 20 Million Users. Some Employees Have Doubts About That
IRL, a four year old social app, appears to be a fast-growing alternative to Facebook and messaging app Discord.
Campbell Brown. Photo by AP.
Exclusive Facebook
Meta Rethinks News Partnerships as Priorities Shift
Meta Platforms is considering reducing the money it gives news organizations as it reevaluates the partnerships it struck over the past few years, according to people familiar with the matter.
Photo by Bloomberg. Art by Clark Miller.
The 1:1
‘I Don’t Know How Steve Jobs Would Survive Today in This Environment’: Tony Fadell Has Opinions to Share and Scores to Settle
Within Silicon Valley power circles, being “on the beach” is a euphemism that covers a continuum of unemployment, from “retired rich” to “brief pause between high-powered jobs.” Tony Fadell has been metaphorically on the beach for six years, ever since leaving Google, which paid $3.2 billion for Nest Labs, the maker of smart thermostats he co-founded, in 2016.
Traders on the floor of the New York Stock Exchange. Photo by Bloomberg.
These Enterprise Software Firms Are Top Targets for Private Equity Takeovers
Big deals are on the way. The sharp drop in tech stocks over the past six months, making companies cheaper to buy, is likely to trigger an increase in merger activity, bankers say.
Chainalysis CEO Michael Gronager on Feb. 24, 2022. Photo: Bloomberg
Exclusive Crypto Venture Capital
Chainalysis Valued at $8.6 Billion in GIC-Led Investment
Chainalysis, a startup that sells services to detect and track crypto fraud, has raised a new round at an $8.6 billion valuation, including the investment, according to a person with direct knowledge of the matter.