Vice Media Group, the company behind popular media websites like Vice and Motherboard, is preparing to file for bankruptcy. The media firm is considering a sale to avoid bankruptcy and has received interest from five companies. In the event of bankruptcy, Vice’s debtholder Fortress Investment Group could end up controlling the company. This news comes as several other media and technology firms have downsized recently due to a challenging economy and weak advertising market. Vice Media has also canceled its TV program, "Vice News Tonight," as part of a broader restructuring resulting in job cuts.
