George Soros in Negotiations to Buy Vice Media Group

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George Soros’ investment management firm and Fortress Investment Group are in negotiations to purchase struggling Vice Media Group in a deal worth approximately $400 million. Vice, once valued at $5.7 billion, is considering the sale to avoid declaring bankruptcy.  Following an unsuccessful year-long attempt to arrange a sale, the company recently took out a $30 million loan from Fortress after not being able to pay its vendors, according to Variety. Its potential bankruptcy comes as numerous other media and technology firms have had to downsize in recent months due to a challenging economy and a weak advertising market.