Nancy Dubuc told Vice Media staffers in a memo Friday she's stepping down from her post as CEO
with a slowdown in the advertising market as macroeconomic conditions have led to uncertainty and a pullback in spending., CNBC reported last month. The company, which had been valued at $5.7 billion in 2017, is now likely to fetch a price tag below $1 billion, after initially looking for a price tag between $1 billion and $1.5 billion, CNBC reported.
I am proud to leave a Vice better than the one I joined. Together we racked up incredible wins while tackling unprecedented macroeconomic headwinds caused by the pandemic, the war in the Ukraine, and the economy all which forced us to pivot, refocus and pivot again. Despite all this the Vice, Vice Studios, Pulse, as well as Virtue, R29, i-D and Unbothered brands are strong.
Today Vice has an incredible opportunity in the hands of a new management team who are looking to harness the businesses we built and grew and to lay the groundwork for the future. I know you are among the most resilient, creative, and determined talent in the business and your futures are bright and hopeful.
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