OUT THE DOOR

Vice Media Faces Management Exodus Day After Bankruptcy Sale Closes

The company completed a sale on Monday to former lenders for $350 million.

Vice Media, fresh off a post-bankruptcy sale to its former lenders, now faces a new challenge: An exodus of management.

The company told employees in an internal memo on Tuesday that Katie Drummond, its senior vice president of global news and entertainment; Jason Koebler, the editor in chief of its tech vertical Motherboard; and Emanuel Maiberg, Motherboard’s executive editor, will all leave the company. The company’s senior director of global news operations, Matthew Schnipper, will also leave in September.

“While more change is surely not easy, I have full confidence in the team who will lead our rebuilding efforts—leaders I have personally seen work hard for their belief in our brands, audiences and clients,” the memo read, according to The New York Times. “I am certain this is exactly what we need in our leadership for the future.”

A Vice Media spokesperson declined to comment.

The spate of exits represents a marked change for the once-dominant media company, which was acquired for $350 million in a post-bankruptcy sale this week by former lenders Fortress Investment Group, Soros Fund Management, and Monroe Capital for .

The sale followed a brutal year for Vice, which has seen dozens of staffers laid off, complaints about staffer treatment, and criticism over massive “retention bonuses” granted to executives that may have left it unable to pay laid-off staffers’ severances and freelancers’ pay.

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Corbin BoliesMedia Reporter

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