Vice Media cancels flagship show Vice News Tonight, announces layoffs

Vice Media Group (VMG) has announced layoffs including the cancellation of its popular TV program Vice News Tonight as a part of its survival plan.

In a circular to employees, co-CEOs Bruce Dixon and Hozefa Lokhandwala said, "In response to the current market conditions and business realities facing VMG and the broader news and media industry, we are moving forward on some painful but necessary reductions, primarily across our News business."

"To be incredibly clear, Vice News is core to Vice Media Group and fundamental to our business. We are NOT exiting the news business, but we are changing the shape of Vice News to position the whole Company for long-term opportunities and improve how we deliver important, ground-breaking journalism well into the future," news portal Deadline quoted Dixon as saying,

The number of layoffs was not specified, although reports suggested that more than 100 employees would be affected.

Layoffs are the latest to hit the news business, with both traditional and digital outlets hit by a weak advertising market.

Last week, entertainment giant Disney also announced that it will cut 7,000 employees as part of cost-cutting measures after its streaming service saw its first-ever fall in subscribers last quarter.

"While this is necessary to address the challenges we're facing today, I do not make this decision lightly," CNN quoted CEO Bob Iger as saying.

Popular media outlets including CNN, The Washington Post, NPR, Vox Media and NBC News have announced layoffs rocking the media industry in 2023.