Media

Vice devalued after Disney's $157m write-down

By Andrew Blustein | Reporter

November 9, 2018 | 3 min read

Disney will take a $157m write-down of Vice Media, the company shared yesterday (9 November) during its quarterly earnings report.

Vice continues slide after Disney write-down

Vice continues slide after Disney write-down

This follows the recent news of Vice Media's plan to cut its staff by as much as 15% through a combination of natural wastage and a hiring freeze, according to the Wall Street Journal.

Disney originally invested $400m in the edgy news outlet in 2015 at a reported valuation of between $4 to $4.5bn.

Vice most recently boasted a $5.7bn valuation as recent as 2017, but it's been downhill since. Vice's current valuation is unclear, but Disney's write-down likely means $2bn drop in value for the Brooklyn-based company.

Vice chief executive Nancy Dubuc has only been at the job for five months. According to WSJ, Vice is on track to lose over $50m this year, and earn between $600m to $650m.

Dubuc is also reportedly planning to consolidate Vice's dozen-or-so verticals by half.

Vice will apparently focus more if its resources on its in-house agency Virtue. Last September, Virtue won Google Chrome’s 10-year anniversary campaign.

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