Vice Media files for bankruptcy to facilitate sale to Soros and Fortress.

Vice Media has filed for Chapter 11 bankruptcy protection, with a consortium of lenders including Fortress Investment, Soros Fund Management and Monroe Capital looking to acquire the company. The group will provide $225m in the form of a credit bid for most of Vice Media's assets, along with significant liabilities. The sale process is expected to conclude within two to three months, and Vice's various multi-platform media brands will continue to operate.