What does the B stand for I wonder?
Vice Media filed for bankruptcy on Monday, punctuating a yearslong descent from a new-media darling to a cautionary tale of the problems facing the digital publishing industry.
The bankruptcy will not interrupt daily operations for Vice’s businesses, which in addition to its flagship website include the ad agency Virtue, the Pulse Films division and Refinery29, a women-focused site acquired by Vice in 2019.
A group of Vice’s lenders, including Fortress Investment Group and Soros Fund Management, is in the leading position to acquire the company out of bankruptcy. The group has submitted a bid of $225 million, which would be covered by its existing loans to the company. It would also take over “significant liabilities” from Vice after any deal closes.
A sale process follows next. The lenders have secured a $20 million loan to continue operating Vice and then, if a better bid does not emerge, the group that includes Fortress and Soros will acquire Vice.
Was once “valued” at $5.7bn
You’ve a lovely way of writing those posts.
Wework filing for Bankruptcy in the next few days according to reports
Was once on paper worth $47bn only a few years ago.
SoftBank invested $18 BILLION into them.
The only surprise there is that they lasted as long as they did.
Be interesting to see what impact that has on office leasing. Already under pressure in all major cities and WeWork going kaput will add a lot more stock
Good time to buy select office blocks with a mind towards rezoning for residential?
You’d imagine some of these office blocks will have to convert alright. Wouldn’t be cheap I’d imagine.
You’d need to be getting a significant discount on the existing building to make money converting to apartments.
Chayper to knock and build again
You’d probably start in the likes of leeson street and baggot street where the offices were put into houses. Might be an easier convert back.
I’d imagine the plumbing would need a fairly major rewire.
Single floor apartments all the rage in other cities that have built up. Converting a single floor for residential be easier id have thought than planning redesign to incorporate multiple apartments
One apartment per floor?
Our blocks tend to be have big floor space but not very high, so you’d be talking about only getting 13 huge apartments per building.
Yeah, tonnes of examples of similar apartment stock in other countries particularly Asia and Australia.
Sydney numerous apartment complexes where well over a mill per floor
As far as I know the Edge has a penthouse apartment that runs to a full floor in the GCD area of Dublin. And he bought the floor beneath it so he wouldn’t be annoyed by noise.
And he bought the top floor apartment because he didn’t want anyone going over the edge
The irony
30 plus years the cunts have been doing everything in their power to try and create some inflation. They finally get some and…
https://twitter.com/unusual_whales/status/1720518878776979915