Vice Media preparing to file for bankruptcy: Report

Vice Media Group, the company behind popular media websites such as Vice and Motherboard, is preparing to file for bankruptcy, the New York Times reported on Monday, citing people with knowledge of its operations.

The media firm has received interest from five companies and might consider a sale to avoid bankruptcy, the NYT report said, adding that in the event of a bankruptcy, which could happen in the coming weeks, Vice’s debtholder Fortress Investment Group could end up controlling the company.