Vice Media declares bankruptcy.

Vice Media has filed for bankruptcy protection in the US as it tries to finalise its sale to a group of lenders. The consortium submitted a credit bid of about $225m for "substantially all of the Company's assets, in addition to the assumption of significant liabilities upon closing". Vice Media was valued at $5.7bn in 2017. The company has been struggling as digital advertising revenue plummeted. The bankruptcy announcement comes just weeks after the company announced it would cancel its flagship "Vice News Tonight" program amid a wave of layoffs expected to impact more than 100 of the company's 1,500-person workforce.