BREAKING: VICE Officially Files For Bankruptcy
Vice Media, known for it’s edgy content, files for bankruptcy despite raising a $250m loan from Fortress and Soros Fund Management.
The filed documents disclose Vice's significant outstanding debt amounting to $834 million, which significantly surpasses the value it was recently negotiating for a potential sale.
This comes shortly after they released their infamous hit-piece on
@cobratate, which was poorly received by both fans & foes of Tate, and weeks after BuzzFeed News shut down
In the meantime, trust in mainstream news continues to hit all-time lows. Less than 10% of Americans trust mainstream news, down from 50% just three decades ago.
Trust is instead shifting to social media platforms, which are unfortunately riddled with censorship as well as misinformation.
I don’t know how our democracy can continue functioning with such mistrust in media, large corporations and the government.
There is a large void for trusted uncensored sources of information, and Twitter is at the forefront in filling that void.
As Elon fights censorship, community notes fights misinformation, and Twitter thrives.
Will Twitter replace mainstream media?
Who's next to fall after Vice?