This year has seen a lot of upheaval within the video games industry. This is not just on the dev side of things but there have been a lot of hits to numerous games media sites. Gamespot and Giant Bomb were hit with wave of layoffs. The Washington Post shut down its Gaming section Launcher. Now, it has been revealed that Waypoint, VICE’s gaming publication will be shut down on June 2, 2023.
Waypoint launched back in 2016 as an evolution of VICE’s gaming section. They recently launched a premium subscription offering called Waypoint+. Waypoint says that they are looking at what they can do for subscribers regarding their subscriptions and want to and intend to do what’s right by everyone to the best of their abilities. Fans may want to look out for a special bonus episode that they’ll record as a thank you. Waypoint also noted that all final podcasts from them will be available on the main feed so everyone can hear it.
The news was first revealed by Senior Writer Patrick Klepek. Since the word got out, the team behind Waypoint all shared a message about its shutdown.
UPDATE 5/2/2023
More information has been revealed that may explain why Waypoint was shut down. It’s being reported that VICE is preparing to file for bankruptcy. This is according to two people with knowledge of its operations. VICE has been looking for a buyer. More than five companies have expressed interest in acquiring VICE but the chances of that are growing slim.
Fortress Investment Group, VICE’s largest debtholder could end up controlling the company. VICE would continue to run normally and then run an auction to sell the company over a 45-day period with Fortress as the most likely acquirer. Fortress holds senior debt, which means they would get paid out first in the event of a sale.
“Vice Media Group has been engaged in a comprehensive evaluation of strategic alternatives and planning,” Vice said in a statement on Monday. “The company, its board and stakeholders continue to be focused on finding the best path for the company.”
The filing could come in the coming weeks, according to three people familiar with the matter.