Vice Media Group is reportedly preparing to file for bankruptcy in the next few weeks.
Quoting the New York Times, Reuters adds that five companies are interested in the group and it could be sold to avoid bankruptcy.
Should that happen, it could end being controlled by its debtholder Fortress Investment Group.
In late April Vice announced that is in the process of restructuring. This will involve the loss of dozens of jobs and the closure of its flagship programme Vice News Tonight later this month.
Broadband TV News notes that Vice’s CEO Nancy Dubuc left her position in February after five years. She replaced Vice’s co-founder Shane Smith, who became executive chairman.