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The Wall Street Journal: Vice Media expected to fall $100 million shy of 2022 revenue goal, amid pursuit of sale

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Vice Media is expecting to miss a 2022 revenue goal by more than $100 million, according to people familiar with the situation, a blow for the new-media company as it pursues a sale.

The company presented a revenue target of over $700 million at an off-site with senior employees earlier this year, one of the people said. The expected shortfall would leave Vice with around $600 million in revenue for the year, roughly flat compared with 2021, the people said.

The anticipated revenue miss comes as the company has been in talks for months to sell itself to Greek broadcaster Antenna Group. The two companies are partners on Vice’s push into international news.

Vice has sought a valuation of around $1.5 billion, according to people familiar with the sale process. The expected 2022 revenue miss could make it harder for the company to fetch that price.

An expanded version of this report appears on WSJ.com.

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