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Vice to lay off hundreds of staffers, stop publishing content on its website | CNN Business (www.cnn.com)

submitted 8 months ago by TheLastOfHisName@beehaw.org to c/usnews@beehaw.org

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Sorry! Didn't know where else to post this! Anybody surprised by this one?

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[–] megopie@beehaw.org 9 points 8 months ago

private equity

Ah, and thus the drain plug is pulled.

Private equity tends to fuck up otherwise successful or at least functional businesses or services, squeezing all the value out of them then selling them for parts. Vice may have been having financial trouble, but selling to private equity will probably result in the end of it.