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The Wall Street Journal reported this week that Vice Media, which includes Vice TV among its holdings, will miss its revenue projections by $100 million this year, noting the timing comes as the company had been in sales talks with Antenna Group, a broadcast company out of Greece, and had been seeking a financial valuation in the area of $1.5 Billion.
Vice TV is the home of Dark Side of the Ring and Tales of the Territories. It recently debuted the Nine Lives of Vince McMahon documentary and featured some MLW content, including the Fightland 2021 special, in the past as well.
The WSJ report stated that Vice's inabilty to hit the projections "could make it harder for the company to fetch" the $1.5 Billion prce it had been seeking.
The report noted, "Vice Media is expecting to see “significant growth” in earnings before interest, taxes, depreciation and amortization, as well as cash flow, from 2021 to 2022, according to a company spokesman."
“It’s been a challenging year for our industry, but VICE is growing year to year through strong financial discipline and focus,” said the spokesman. “Our ongoing performance is creating new opportunities for VICE in 2023 and working with our advisors, we’ll keep exploring ways to position the company for growth and success.”
The article noted that five years ago, Vice was valued at $5.7 billion and that a debt of $250 million stemming from investor loans are coming due. The articles noted, "Fortress [Investment Group] is currently working with Vice on a framework to restructure its debt, according to a person familiar with the matter."
The article also stated Vice is "several months behind" on payments to a number of its vendors. An attempt to bring the company public last year did not go forward.
Early production work on a fourth season of Dark Side of the Ring is underway as Hacksaw Duggan was recently interviewed.
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