• by Ray Schultz , March 31, 2021

Vice Media Group is in talks to merge with 7GC & Co Holdings for the purpose of making a public offering, according to an article in The Information. 

However, the firm’s valuation would fall short of the $5.7 billion peak valuation reported in 2017.  

Vice, which had already held talks with other special-interest acquisition companies (SPACs), is at the advanced stage of talks with 7GC & Co, per the article.

The other SPACs it has talked with include one led by Discovery-backed Group Nine Media and another led by former Disney executives Tom Staggs and Kevin Mayer. Those talks did not produce a deal.  

BuzzFeed is another media title reportedly in talks with a SPAC to go public. SPACs are typically set up for purposes such as public offerings. 

Vice saw its revenue fall last year to $580 million, versus $604 million in 2019, The Information notes. It lost about $50 million in 2019, according to The Wall Street Journal. 

In May 2020, Vice laid off 155 people as revenue continued to be affected by COVID-19, TechCrunch reported at that time. 

Founded in Montreal in 1994, Vice Media is comprised of digital content network Vice.com, news outlet Vice News, feature film producer Vice Studios, in-house ad agency Virtue and TV channel Vice TV. 

Earlier this week, the news broke that Virtue is acquiring creative consultancy Pltfrmr.