Posted on 05/18/2019 3:51:13 PM PDT by Impala64ssa
AND THAT MEANS OUR NATIONAL POLITICS ARE HEALTHIER THAN WE THOUGHT
Another nasty, smear rag bites the dust.
Sometimes when a company implodes you feel sorry for the people who are losing their jobs. Sometimes, however, it is very, very difficult to do so. This week, the New York Post reported on one of those instances where a company fails and you have an urge to send “Learn to Code” memes to every single one of their employees.
Salon Media Group, a one-time digital darling, has fallen on hard times. It lost its CEO of the past three years last week and appears to be on the brink of a deal to sell itself for a fire sale price of $5 million.
The struggling company said in a Securities and Exchange Commission filing on May 8 that it reached a deal to sell itself to a company called Salon.com LLC.
The filing contained no further info on the mystery buyer or buyers but said the deal would only require a $550,000 payment at closing. It said $100,000 would go to an escrow account and $500,000 was already paid as a deposit.
The remaining $3.85 million would be a promissory note payable in two installments over two years.
Even with those favorable terms, Salon issued a dire warning in the filing: “There can be no guarantee that the asset sale will be completed and, if not completed, we may have to file for bankruptcy and liquidation.”
Keep in mind that it went public in 1999 with a valuation of $107 million.
Apparently they are being bought by the same couple of guys, Chris Richmond and Drew Schoentrup, who made a run at buying Snopes.com in 2015 and nearly put it out of business. Salon, now a penny stock, is about to be delisted by the SEC because they haven’t filed any disclosure statements in over a year.
“We think we can turn a profit in year one,” Richmond said.
Yep. We’ll continue to loose a little bit on each transaction but we’ll make it up with volume.
The advertising market for political websites is tight and Salon had lost money nearly every quarter since it was founded. It was only kept afloat by gifts from a couple of wealthy leftists. If you take a look at it now, it carries very little advertising and the content is utter crap. Bottom line: it was never intended as more than a welfare system for otherwise unemployable progressive writers.
Whatever its value in its early years…and that was marginal…has been erased by hatemongers like Amanda Marcotte and by its relentless campaign to normalize pedophilia, for instance:
This is how it was described by The Daily Beast:
[H]onorary mention must collectively go to the once-interesting Salon.com, which now reads like the Evergreen College student newspaper. At a loss for what to write about? How about undergraduate analyses of popular culture through the prism of race, class, and gender? Is Breaking Bad sending coded messages of white supremacism? Is liberal comedian Patton Oswalt a racist? How about a helpful analysis of The Legend of Zelda, a video game celebrating its 15th anniversary, which concludes that “the ways it deals with class, race, gender and animal rights are all deeply problematic.” (The same writer followed up with an apparently serious column on the best “video game for vegans”).
Odds are that Salon will not survive. And that, alone, helps convince even the hardest heart that there is a sense of cosmic justice.
BUT.......there are tons of other “smear groups” out there that the Dems use without conscience!!
Read Sharyl Attkisson’s book “The Smear: How shady political operatives and fake news control what you see, what you think, and how you vote.”
We gotta get ready to immediately combat smears and smearers!!!!
2020 depends on US!!!
Oh no!
Where will I get my screaming, insane left wing talking points now? :(
Still worth five million times more than Newsweak.
Well... ‘bye.
HA
Like the GIF was made for this very moment
I laugh at their pain and misfortune.
I want to marry her and have Boo Hoo children.
[H]onorary mention must collectively go to the once-interesting Salon.com, which now reads like the Evergreen College student newspaper.
Ouch. If you've lost the Beast, you're done in liberal land.
Future Tent City/Bum pooping area.
It is hard to stand out when story after story is some variation of “orange man bad” when every other story on every other magazine digital or dead tree is also about how orange man is bad
Salon.com is shutting down? BWAhahahahahahaha!
So long Salon.
As these hate rags dwindle into squeaking ghosts, they need to be snapped up by moderately wealthy conservatives who can reformat them as right-wing outlets. That would guarantee profit in short order, and have the added side-benefit of doubling the rage of the NPCs, because not only is there another voice for the Right, but it’s under the masthead of a former Lefty propaganda organ.
Geeze, with all the pushing to the top of the news feed, you’d think they had a billion readers.
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