After expressing interest in buying BET, Group Black has tabled a bid to acquire Vice Media for $400 million, according to the Wall Street Journal.

The news comes as the company has pinpointed its focus on acquiring media firms and growing Black media groups. It already owns over 150 Black-owned media brands, including ESSENCE, Afropunk, PlayersTV, and more.

“We are actively in market looking at scaled assets to acquire for the purpose of creating larger infrastructure for our collective to be able to grow their business. That growth means scaled distribution and other assets that will enable us to accelerate the reach and scale of Black-owned media overall,” founder Travis Montaque told AfroTech.

Vice has reportedly received other bids from groups aiming to buy the whole business or a portion of the company.

The company initially had been seeking a sale at a $1.5 billion valuation and was in talks with Greek broadcaster Antenna Group, but a deal never materialized. The Wall Street Journal reports that the company hopes to put a bow on the bidding process soon.

If purchased, it would represent the end of a tumultuous time for Vice, which was valued at $5.7 billion in 2017.

Last month, CEO Nancy Dubuc stepped down at a time when Vice owes millions of dollars to vendors who have sought out collection agencies to recoup funds.

Fortress Investment Group, one of Vice’s lead investors, is overseeing the sales process and will reportedly decide whether to support a sale or restructure the company in hopes of selling it later, according to the Wall Street Journal. The investment firm lent Vice $250 million in 2019.

Once hailed as the future of media, Group Black’s bid could be an attempt to revitalize the channel while producing Black-owned content to increase multicultural voices and influence.