Vice Media said it would stop publishing content on its flagship website and plans to cut hundreds of jobs, following a failed effort by owner Fortress Investment Group to sell the embattled digital publisher and its brands.
The moves were laid out in an internal memo from Chief Executive Bruce Dixon, a copy of which was reviewed by The Wall Street Journal.
“It is no longer cost-effective for us to distribute our digital content the way we have done previously,” Dixon told employees in the memo. He said the company could partner with established media companies to distribute its content. “As part of this shift, we will no longer publish content on vice.com.”