Updated 8:10 PM AST, February 22, 2024Share

NEW YORK (AP) — Vice Media plans to lay off several hundred employees and no longer publish material on its Vice.com website, the company’s CEO said in a memo to staff Thursday.

Vice, which filed for bankruptcy last year before being sold for $350 million to a consortium led by the Fortress Investment Group, is also looking to sell its Refinery 29 publishing business, CEO Bruce Dixon said in his memo to staff.

It’s the latest sign of financial problems buffeting the media industry. Digital sites the Messenger, BuzzFeed News and Jezebel have all shut down in the past year, and legacy media outlets like the Los Angeles Times, Washington Post and Wall Street Journal have also seen job cuts.

Once a swashbuckling media company geared to a younger audience with an immersive storytelling style that encompassed digital, television and film outlets, New York-based Vice was valued at $5.7 billion in 2017.

Top Feature Photo: The Vice logo is seen at a joint venture announcement between Vice Media and Roger Communications in Toronto, Oct 30, 2014. Vice Media’s CEO has said in a memo to staff members that the troubled company plans to lay off several hundred employees. Bruce Dixon said Thursday, Feb 22, 2024, that staff members affected by the layoffs will be notified early the following week Nathan Denette/The Canadian Press via AP