KEY POINTS
  • Vice Media is restarting its sale process after earlier interested bidders balked at the initial price tag, according to people familiar with the situation.
  • The digital media company, which was valued at $5.7 billion in 2017, is now likely to fetch a price of below $1 billion, the people said.
  • Fortress, one of Vice's lenders, has become one of the leaders of the sale process as it looks to get paid out, the people said.
Vice Media offices display the Vice logo in Venice, California.

Vice Media is restarting its sale process after earlier interested bidders balked at the initial price tag, according to people familiar with the situation.

The digital media company, which was valued at $5.7 billion in 2017, is now likely to fetch a price of below $1 billion, the people said. Initially, Vice was looking for a valuation between $1 billion and $1.5 billion, one of the people added. The people weren't authorized to speak publicly on the matter.