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Vice Media is reportedly looking to sell its studio business

May 2, 2022
Illustration of a collage featuring a movie clapper, parts of dollar bills and quarters, and triangles..

Illustration: Brendan Lynch/Axios

Vice Media hired investment bank PJT and LionTree to explore the sale of its studio business, The Information reports.

Why it matters: Studio businesses have become attractive acquisition targets as the rise of streaming increases the demand for content.

💭 Kerry's thought bubble: Vice may have started as a print magazine, but it's become known and celebrated for its documentaries and award-winning filmmaking. Losing that division would not only shrink Vice's revenue but also its prominence.

Details: Vice Studios' projects include "Flee," the animated documentary film that was nominated for the Academy Award for Best International Feature Film along with Best Documentary Feature and Best Animated Feature.

  • It also recently acquired Pulse Films, which produced the films "Pig," "Mogul Mowgli" and "Meet Me in the Bathroom" and the TV series "Gangs of London" and "Dead Asleep."
  • The Information reports that Vice Studios is the company's biggest business by revenue contribution.

The bottom line: "Vice has struggled for several years to turn profitable and it faces pressure from investors, including TPG, to repay $1.1 billion in debt it owes." ⁠— Jessica Toonkel, The Information

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