OAN’s Daniel Baldwin
2:10 PM – Wednesday, May 17, 2023
Soros Fund Management and other investors are set to buy Vice Media for about $225 million after the company filed for Chapter 11 bankruptcy Monday.
“I think Vice is probably a good investment for him,” said Dan Schneider, vice president of the Media Research Center. “But not from a financial standpoint. It is going to be value for his political dollar.”
According to a Vice press release, the lender group includes Soros Fund Management, Fortress Investment Group, and Monroe Capital. The purchase will be $225 million “in the form of a credit bid for substantially all of the Company’s assets, in addition to the assumption of significant liabilities upon closing.”
“Soros can get more out of his political buck by buying Vice and using it for his political ends,” said Schneider. “And then he can just giving donations to the Democrat party.”
Vice was once valued at $5.7 billion. Schneider says this serves as the latest cautionary tale regarding the phrase: “Go woke, go broke.”
“I’ve had to deal with some of these vice reporters,” Schneider said. “And I’ll tell you: they are nasty. “They do not tell the truth.”
This filing comes after a series of leftwing media shutdowns. Most recently MTV News closed shop following Paramount Global reported a net loss of $1.1 billion in the first quarter of 2023. BuzzFeed also shut down its news division in April 2023 while laying off approximately 15% of its workforce.
“They are effective people at propagandizing America,” explained Schneider.
Tesla CEO and Twitter owner Elon Musk levied criticism of his own at Soros, comparing him to the super villain Magneto. Musk went so far to say that Soros wants to “erode the very fabric of civilization.”
“Musk is a guy who’s not on the political right,” said Schneider. “He’s not on the political left. He just wants people to be able to speak their minds and have people participate in self-government.”
“When he points out somebody like Soros, it’s not from some ideological point of view,” Schneider continued. “It is a pure calculation based on what’s good for humanity. And Musk understands that Soros is horrible for freedom. Soros is horrible for anybody who wants a cohesive, coherent society.”
Vice leadership says this sale will only make the company stronger in the future.
“This accelerated court-supervised sale process will strengthen the Company and position VICE for long-term growth, thereby safeguarding the kind of authentic journalism and content creation that makes VICE such a trusted brand for young people and such a valued partner to brands, agencies and platforms,” said Bruce Dixon and Hozefa Lokhandwala, VICE’s Co-Chief Executive Officers. “We will have new ownership, a simplified capital structure and the ability to operate without the legacy liabilities that have been burdening our business.”
Schneider disagrees, arguing the sale, which is expected to be completed in the coming months, only reinforces the need for Americans to wean off of traditional mainstream media outlets.
“[Americans] have got to reach out and start watching and listening to outlets like yours that provide news, provide information and allow the listener to decide what are facts and what is not,” Schneider said.
Stay informed! Receive breaking news blasts directly to your inbox for free. Subscribe here. https://www.oann.com/alerts