In recent years, Vice has focused on diversifying its revenue streams, expanding its Vice Studio business, its advertising agency, Virtue, and its global newsgathering division. These units helped improve the company’s financial results and achieve profitability in some quarters last year, according to a person familiar with the matter.
On Thursday, Vice Media announced that it has earned 33 Emmy nominations in the news and documentary category.
The News reported earlier that Vice has hired advisers to explore a sale of his studio business. CNBC reported that Vice Media was considering selling its entire business, and The Wall Street Journal reported that Group Black, a media company focused on black ownership, was exploring a deal for Vice.
Vice, like many digital media companies, last year explored an IPO plan through a deal with a special-purpose acquisition vehicle, which had been seen as an easier way to take a company public than a traditional initial public offering. But enthusiasm on Wall Street for SPACs waned, in part because of the poor performance of many companies that used them to go public, and Vice instead raised funds from investors.