As it bulks up in its post-bankruptcy and moves past its production-company-for-hire era toward rebooting itself as a studio, Vice Media is expanding its C-suite with multiple new executives on its finance side.
Joe Friedman, the veteran talent agency exec who spent 16 years at ICM Partners before moving to CAA after its acquisition, has formally joined Vice as chief financial officer, the company said Friday. The Los Angeles exec, who has been consulting with Vice since last September, will now report to CEO Adam Stotsky in the org chart. Stotsky, formerly the president of E! and Esquire Network during a 18-year run at NBCUniversal, had joined Vice last June.
Friedman will oversee finance at its studio divisions (the Amy Powell-led Vice Studios) along with its brand side (the sponsored content Virtue Worldwide ad agency) as well as joint ventures. On JVs, for example: A year after Vice filed for bankruptcy in 2023, which effectively ended Vice as a major, scaled digital media player, the company inked a deal with Savage Ventures, the Nashville-based publisher of American Songwriter, to resurrect and manage the day-to-day of the Vice site as a web news destination.
Devak Shah, who spent five years in biz dev at NBCUniversal before leading strategy at interactive media startup Hellosaurus, has been hired as Vice’s exec vice president of strategy. He’ll also report to the CEO and evaluate new business opportunities for the rebooted company. Additionally, finance and accounting exec Carolyn Prudente, who previously served as CFO of Opus Music Group, was named senior vice president and controller, reporting to Friedman.
“I’m proud to welcome Joe and Devak as key partners on my leadership team as we redefineVice’s promise as a modern storytelling enterprise that produces culture-defining premium originals, catapults brands and artists into the cultural conversation, and delivers resonant stories across our expansive portfolio,” saidCEO Stotsky.
The moves mark the next chapter for the slimmed-down company that had filed for bankruptcy with more than $834 million in debt obligations in 2023. Now, New Vice is touting its access to funds it can tap into, up to $500 million, via a $75 million credit facility with Western Alliance Bank and Fortress Investment Group (one of Old Vice’s biggest creditors).
Vice, which is behind Sky and AMC+ series Gangs of London, now heading in to its fourth season (and Vice views it as having Gangs of [insert city here] franchise potential). On the unscripted side, Vice TV produces the Dark Side series (Dark Side of the ’90s, Dark Side of Reality TV, etc) for its JV with A+E, the cable channelVICETV.
And New Vice has also been active in M&A to grow its production bonafides, picking up McMafiaproducer Cuba Pictures from United Talent Agency’s U.K.-division Curtis Brown Group last April and buying music video production studio London Alley to merge with Pulse Films.
“Vicehas a powerful, distinctive brand and is well positioned at a pivotal moment for themediaindustry,” Friedman added. “I’m very excited to join a highly talented leadership team as we begin the next chapter, strengthening the company’s financial foundations while supporting long-term, creative-led growth.”