according to the Wall Street Journal. On Tuesday, Vice Media secured more than $30 million in debt financing from Fortress Investment Group.
The money comes as Vice owes vendors and advisers millions, with some of the entities not having been paid in more than six months, the Journal reporting, citing anonymous sources.
This has led to vendors passing the issue onto collection agencies to get their money back. This isn’t the first time Fortress has come through financially for Vice Media.
In 2019, the firm lent the media company $250 million, along with investors Soros Fund Management LLC, 23 Capital and Monroe Capital.
Read more on thewrap.com
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