‘Like Icarus – now everyone is burnt’: how Vice and BuzzFeed fell to earth

  • May 5, 2023
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Era of lofty valuations for upstart youth media appears to be over, with Vice ‘heading for bankruptcy’ and BuzzFeed News shutting down

Just over a decade ago Rupert Murdoch endorsed what appeared to be a glittering future for Vice, firing off a tweet after an impromptu visit to the media upstart’s Brooklyn offices and a drink in a nearby bar with the outspoken co-founder Shane Smith.

“Who’s heard of VICE media?” the Australian media mogul posted from his car on the way home from the 2012 visit, which resulted in a $70m (£55m) investment. “Wild, interesting effort to interest millennials who don’t read or watch established media. Global success.”

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