Bankrupt media outlet Vice Media has found a bidder for its business that wants to chart a new course for the beleaguered company outside chapter 11 bankruptcy, the Wall Street Journal reported. Digital media conglomerate GoDigital is in advanced talks to buy all of Vice’s assets including its core news business and female-focused Refinery29 at an upcoming bankruptcy auction, the people said. A bid could put GoDigital in competition with Fortress Investment Group and Soros Fund Management, lenders to Vice that have offered to swap outstanding debts for ownership of the business. GoDigital’s bid would likely value Vice at between $300 million and $350 million. The talks involving GoDigital aren’t guaranteed to produce a workable deal. Any bidder needs to show it has sufficient funds to buy Vice, and GoDigital is still finishing due diligence on the company and preparing documentation.
