"Vice News Tonight" Canceled As Media Downturn Accelerates

in a very short period of time This text discusses how Vice and BuzzFeed have both lost billions of dollars in value in a short amount of time.

Vice Media Group's (VMG) downfall is an example of challenges that media organizations face when they shift their focus to ultra-leftist ideologies. Vice Media received a $5.7 billion funding round in 2017. One of the founders made jokes about "hockeystick" growth and a'sexy' IPO debut. The co-CEOs Bruce Dixon, and Hozefa Lohandwala, told their employees that "in response to current market conditions and financial realities facing VMG, and the wider news and media industry in general, we are moving ahead with some painful but needed reductions, primarily within our News business." VMG is joining a number of media companies who have been forced to restructure their businesses in recent months because of macroeconomic pressures and a weakening advertising market. It's not only VMG and BuzzFeed that are losing workers. NBC News