• by Ray Schultz , May 9, 2024

Vice Media, seeking to revitalize its digital businesses, has formed a joint venture with Savage Ventures to relaunch vice.com, Munchies, Motherboard, Noisey and related social platforms. 

Terms of the deal have not been disclosed. Vice News digital assets are not part of the deal. 

However, the joint venture will manage all aspects of Vice’s digital properties, the firms say.

Savage Ventures, which has managed such digital businesses as outdoors.com, says it can help expand the global reach of Vice digital properties. 

“There is intrinsic value in the Vice brand and finding the right partner to re-energize our Vice digital assets is important to our continued growth,” says Bruce Dixon, CEO, Vice Media.

Dixon adds, “Savage Ventures presented us with a unique opportunity to re-energize VICE’s digital businesses. This structure allows us to leverage Savage’s leading expertise and furthers our vision to produce compelling original content that entertains while pushing boundaries.”

The Vice portfolio has nearly 100 million followers across all of its platforms, the firm claims. 

Vice says the joint venture is a major step toward refocusing of its core businesses. 

Following the sale of Refinery29, a digital media and entertainment platform, to Subdial Media Group (SMG), owner of Essence magazine,  a Vice spokesperson issued this statement, according to Axios:  "This is the end of a chapter for Vice. We have shifted to a studio model — producing and providing best-in-class content to distributors around the world.”

In May 2023, Vice filed for Chapter 11 bankruptcy and was subsequently acquired by a group of creditors, including Fortress Investment Group, Soros Fund Management and Monroe Growth Capital, for an estimated $350 million.   

Also in May, Vice News Tonight aired its final episode amid reports of layoffs totaling 250.

Sam Savage, CEO of Savage Ventures says, “The Vice brand remains an important cultural icon, and we intend to honor its legacy of compelling storytelling as we shepherd it into the new media landscape.”