According to reports, Vice has talked to several SPACs including 7GC, Group Nine (Ben Lerer), and Forest Road II (Kevin Mayer / Tom Staggs). The estimated price tag in the ~$2.5B range would be a steep discount to where they raised at a peak valuation of over $7B back in 2017. Several outlets have reported that they are close to striking a deal with 7GC.
7GC Management Team
7GC is led by Jack Leeney, who is also the the founding partner of 7GC, a growth equity firm. 7GC lists Hims and Hers (HIMS), the d2c health company that went public via Oaktree's SPAC, among their list of prior tech investments.
Aside from the HIMS experience, the majority of the management team has additional relevant SPAC experience via the PropTech family pair of SPACs. PropTech I took Porch Group (PRCH) public, and the second (PTIC) raised $230M in its IPO and is searching for a target.
They also reference Cheddar TV, the digital news service, as an investment. Perhaps more relevant to the business line of a company such as VICE.
Vice Media has always been a buzzy name thanks to its brash founder, Shane Smith, and cutting edge journalism. However it has also run into hot water over the years for poor decision making, exuberance, and a questionable work environment.
That being said, the brand remains popular. Judging from the VII stock performance since the rumors came out, if you have conviction in the VICE brand - sub $10 could be an attractive entry point.. and if nothing else, a free option until redemption.