Vice Media endured a rebirth of its own following its bankruptcy in June. Its three primary creditors acquired the company for $250 million in July, and they have since pared down its internal structure, ousted a co-CEO and installed an interim executive chairman.
Sell-offs, spin-outs and top-of-funnel plays
Some titles, including Saveur, NowThis and i-D Magazine, have undergone symbolic, if not literal, resurrections this year, becoming independent companies through sell-offs and spin-outs.
In April, the longtime editor in chief of Saveur bought the title from Recurrent Ventures, while Vox Media sold the majority ownership of NowThis to nonprofit Accelerate Change.
Last month, model and media entrepreneur Karlie Kloss acquired i-D from Vice Media following its bankruptcy proceedings. All three were acquired by opportunistic parties that saw untapped potential in the titles.
Similarly, two other publishers, freelance network Study Hall and streetwear publisher Complex Media, have found themselves under new, non-media owners with a different conception of their value.
In both cases, the acquiring parties bought the properties to access the audiences they attracted, using the publishers as top-of-funnel devices for converting their readers into consumers. OutVoice, a freelance payment software, nabbed Study Hall, while Ntwrk, an ecommerce platform, is in the process of acquiring Complex Media.
In each instance, the value of these publishers lies primarily in their audience and brand.
As the media ecosystem continues to fracture, rendering it increasingly difficult to reach large, like-minded groups of consumers, publishing titles with preexisting followings will only become a more precious commodity.
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