Vice Media, the digital media firm once valued at $5.7 billionAccording to sources familiar with the matter, he has employed bankers in order to sell his house.

People familiar with the situation said that Vice has received preliminary interest from several buyers to acquire it outright. Vice believes that finding one buyer for the company would make it easier, due to the potential difficulties around its valuation and outstanding debt. However, Vice is exploring the possibility of selling the company separately, people familiar with the matter said.

Information reported FridayVice has decided to sell its content studio company and has named PJT Partners as the banks that will assist it in this transaction.

Vice’s greatest assets could be its content library and its creative advertising agency, VirtueThey said yes. Pulse Films also makes up the studio. Vice announced in MarchIt had previously owned a small percentage of the company. Pulse is responsible for a host of musical documentaries including “Lemonade”, “Beastie Boys Story” and “Lemonade”. According to one person, the market for documentary films is extremely hot at present in sales and consolidation.

Vice attempted to go public via special purpose acquisition company last year, reaching an agreement with 7GC & Co Holdings. After the market crashed, plans to make Vice a public company stalled. Investors weren’t convinced of Vice’s potential as an independent public company. CNBC reported last year.

Vice, a pioneer in the digital media sector, was a darling from the beginning. It reached its peak with a $450m investment by private equity firm TPG. The company was valued at almost $6 billion. Last year, Vice sought a $3 billion valuation including its debt. Vice is likely to get a much lower price if it signs a deal to purchase the company in its entirety, according to two people. The Wall Street Journal last year reported that Vice had estimated that it would fetch around $1 billion. hit $1 billion in revenueBy the end 2023

Vice may sell as it looks for liquidity to support investors and pay $1 billion of debt. Disney is already wrote off its $400 million investment in 2019With the hope that it will prove to be insignificant.

According to the sources, discussions with buyers continue. They said that no deal was imminent or certain. TPG doesn’t want to acquire all Vice, but is instead looking for monetization of some of its investments.

“The market is very active in the studio space right now and we have built a scaled, global world-class studio business that’s generating inquiries – when there’s that kind of interest, we have to consider it for our investors,” said a Vice spokesperson. “Beyond that there’s nothing to comment on.”

TPG declined to comment.

Vice also owns a news siteIt also includes other digital media assets such as Refinery29 acquired in 2019 for $400 million.One person said that digital media companies like BuzzFeed or Vox Media, have recently consolidated their assets and may be potential buyers of those assets.

WATCH: Vice Media CEO Nancy Dubac discusses the future for the company