Disney is taking a $157 million write-down on Vice Media as the site is reportedly laying off 15% of its staff

Disney is taking a $157 million write-down on its investment in Vice Media, the company announced in its fourth-quarter earnings report Thursday.

told the Wall Street Journal at the time. This was in addition to a previous stake Disney had in Vice along with Hearst and A+E Networks.

On Wednesday, the Journal reported that Vice plans to cut its workforce as much as 15 percent under new CEO Nancy Dubuc. Sources told the Journal revenue had remained fairly flat for the year at roughly $600 million to $650 million and is on track to lose over $50 million for the year.

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