George Soros's investment management firm is entering into a deal along with other investors to acquire Vice Media from bankruptcy, a move that would boost the billionaire’s already enormous influence in left-wing politics and media.
Soros Fund Management, along with Fortress Investment Group, are closing a deal to take over the media company for $400 million. Vice, which was valued at $5.7 billion in 2017, had been considering filing for bankruptcy, the New York Times reported on May 1.
The investment firms were the top lenders to the indebted media group, which has struggled to turn a profit in recent years.
Gaining control over Vice would add to Soros’s influence in American media. Soros in 2021 helped form an organization called Good Information, Inc., which acquired Courier Newsroom, a group that pushes Democratic propaganda on websites designed to resemble legitimate local news publications. Media Matters for America also received $500,000 in funding in 2021 from Soros.
The billionaire philanthropist has deep influence in Democratic politics. Donations from his Open Society Foundations helped Democrats win the recent Wisconsin Supreme Court race. Soros has funded the election campaigns of dozens of progressive prosecutors across the country.