Vice Media to Stop Publishing on Vice com Plans to Cut Hundreds of Jobs
WSJ.comFeb 22
Vice Plans Mass Layoffs, Stops Web Publishing
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The Facts
Vice Media CEO Bruce Dixon on Thursday in a memo informed employees of hundreds of layoffs and the end of publishing content on the company's flagship website, Vice.com — effectively ending its independent news operations.
Dixon's memo said it's "no longer cost-effective" to distribute digital content, and Vice will "look to partner with established media companies" to distribute content in the future.
The Spin
Narrative A
Another flashy digital media content producer is on the cusp of disappearing forever. Vice's demise further proves that a business model reliant on appealing to a young audience and increased digital ad revenue can't succeed. These cuts could push Vice back to profitability and it'll be interesting to see the approach it takes.
Narrative B
This wasn't a failure of Vice's business model, it was yet another example of what happens when private equity overlords try to use a journalistic entity as their private piggy bank. Owners who are dedicated to strong journalism over trying to get rich off the backs of digital content creators could make a go of it, and benefit society, even in today's difficult media environment.
Nerd narrative
There's a 50% chance that the Woke index in US elite media will top by January 2025, according to the Metaculus prediction community.