Vice Media, the company behind Vice TV The Dark Side of the Ring, is reportedly restarting its sales process. Talks with Greek broadcaster Antena Group have recently stalled.
CNBC reports The media company is restarting the process after interested parties were put off by an initial price tag of $1 billion to $1.5 billion. The report notes that Vice Media is now selling for less than $1 billion, a big drop off for a company that was worth $5.7 billion in 2017.
It was noted back in December that Vice would miss its projected revenue for 2022 by about $100 million. Experts then knew that this could potentially affect its sales process. Vice was in talks with Antenna Group at the time, but those talks stalled in the past few weeks. The antenna will probably be interested once more as the process resumes.
Representatives for Vice Media, Antenna and Fortress Investment Group, one of Vice’s lenders handling the sale process, declined to comment.