Vice price sliced in half

Vice’s sky-high market valuation of nearly $6 billion reportedly has been cut in half as the millennial-focused new media company prepares to go public later this year.

Founded by gonzo journalist Shane Smith, the firm is eyeing an initial public offering through a merger with a blank-check company called 7GC & Co. in a deal that would value it at “nearly $3 billion including debt” — and rid it of hefty financial obligations, according to The Wall Street Journal.