Soros Investment Helps Bail Out Flailing Vice Media

May 8th, 2019 1:07 PM

Vice Media just got some help from the biggest funder of the left: billionaire George Soros.

The edgy and controversial liberal media company raised $250 million in debt from a group of investors including Soros Fund Management LLC, 23 Capital, Fortress Investment Group LLC and Monroe Capital, according to the May 3, Wall Street Journal.

The debt financing is meant to help a “turnaround strategy” under new CEO Nancy Dubuc who took over in 2018. The same week as the investments from Soros and others were announced, Vice Media combined several of its websites including Munchies, Motherboard and Vice News into a revamped single site:

The media company’s goofy, left-wing tilt is what’s unlikely to change.

In the past the media group’s various sites have blasted Catholic Church policy on abortion and contraception claiming the church policies have been “harming women for 50 years,” joined the chorus of left-wing media which promoted false claims that videos exposing Planned Parenthood were deceptively edited, encouraged kids to find their inner drag queens, and wanted to “Blow Up Mount Rushmore.”

The Journal reported in late 2018, Vice Media would shrink its workforce by 10-15 percent (through a hiring freeze) and reduce its digital sites because growth had stalled and some advertisers ended sponsorships.

Although this recent media investment was through his fund management company, Soros has funded a myriad — more than 180 media-related groups — through his past philanthropy. He’s also connected to many prominent journalists.