Vice to lay off hundreds of staffers, stop publishing content on its website | CNN Business

the beleaguered publisher makes “fundamental changes” to its “strategic vision” under its new private equity ownership,

Billionaire buys failing media company with former big name. Guess what kind of right wing garbage you'll start hearing from them now. Will it be how Ukraine should be left to die, how the Palestinians need to be exterminated, how unions are bad for the American dream, or how Biden is senile?

Just a reminder that Vice was founded by Gavin McInnes, who also founded the Proud Boys and explicitly mentioned wanting to use Vice as a hipster-to-chud pipeline.

private equity

Ah, and thus the drain plug is pulled.

Private equity tends to fuck up otherwise successful or at least functional businesses or services, squeezing all the value out of them then selling them for parts. Vice may have been having financial trouble, but selling to private equity will probably result in the end of it.

That seems to be happening with a lot of online journalism. The money for the content was never there on a corporate scale.