VICE Media, which shot to notoriety here last year following an exposé on bribery involving Chinese businessmen and an attempted takedown of Vice President Bharrat Jagdeo is restarting its sale process after earlier interested bidders balked at the initial price tag, according to a CNBC report yesterday.
CNBC said that the digital media company, which was valued at US$5.7 billion in 2017, is now likely to fetch a price of below US$1 billion, according to the people it spoke to. Initially, VICE was looking for a valuation between US$1 billion and US$1.5 billion, one of the persons said, according to the report.
CNBC said that a VICE Media spokesperson didn’t immediately respond to comment.
