U.S. media group Vice said on Monday it had filed for bankruptcy to facilitate its sale.
The bankruptcy will not disrupt the day-to-day operations of Vice's businesses. A group of Vice lenders, including Fortress Investment Group and Soros Fund Management, are on the front lines to bring the company out of bankruptcy. The group has submitted an offer of $225 million, which would be covered by its existing loans to the company. The company was considered worth $5.700 billion.