VICE shuts down website and lays off ‘hundreds’ of staff ...News

Once valued at $5.7 billion, the outlet has since descended into irrelevance Vice.com has stopped publishing new content and laid off several hundred employees, its CEO announced late on Thursday. The outlet once valued at billions of dollars had to be rescued from bankruptcy last year, by a consortium including George Soros. The website is still available, but its content management system was shut down minutes before midnight, according to one employee. Vice company will “transition to a studio model,” CEO Bruce Dixon said in a message sent to the staff, as part of “fundamental changes to our strategic vision.”

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