AGS NEWS – Vice Media is set to make significant job cuts and cease publishing on Vice.com, according to a memo from CEO Bruce Dixon.

After filing for bankruptcy and being acquired by Fortress Investment Group in May, the company plans to collaborate with established media firms for digital content distribution.

Other media companies like Channel 4, Los Angeles Times, and Business Insider have also downsized this year.

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Dixon mentioned the move is due to cost considerations. The company is in the process of selling its business.

Vice Media, founded in 1994 as Voice of Montreal, operates globally but has faced financial challenges despite earlier valuations and attempts to disrupt traditional media.

Despite producing various content, including documentaries and feature films, revenues have stagnated, and efforts to go public have fallen through.