perfect!!!
Posted on 05/15/2019 11:03:03 AM PDT by RightGeek
Salon Media says they have reached an 11th hour deal to sell the company and its flagship property Salon.com for $5 million. In an SEC filing, Salon also revealed its position was dire and that it would face imminent “bankruptcy and liquidation” if the deal should fall through.
“We have agreed to sell substantially all of our assets (the “Asset Sale”), including all pertinent intellectual property rights comprising the Company’s business of owning, operating and publishing the website known as Salon.com,” the filing read.
The company buying Salon was named only as Salon.com LLC and appeared to be getting an even better deal than the top line figures first suggest. To complete the sale, the buyer need only pay $550,000 at closing, with an additional $100,000 left in an escrow account. The filing also showed that a deposit of $500,000 had already been paid.
The outstanding $3.85 million chunk would be paid in two subsequent installments over the next two years. News of the sale was first reported by New York Post columnist Keith Kelly.
The company’s troubles, however began long before and were documented in detail in a 2016 Politico Magazine story, which revealed that for years Salon — deeply unprofitable — had been kept afloat by elderly benefactors, John Warnock, a co-founder of Adobe, and Bill Hambrecht a venture capitalist. The two are now 78 and 84 respectively.
(Excerpt) Read more at thewrap.com ...
Awwwwww... Poor wittle Sawwon! Just how “problematic” is the situation you find yourself in?
I guess catering to the SJW/AntiFa crowd isn’t quite as profitable as you though?
Oh where, oh where will I go to get your unique take on why all white males are on the level of Satan, Himself? Maybe “The Root”, “Polygon”, “Jezebel” and “Mother Jones” will pool together to bail you out?
More cowbell is not a solid business plan.
I’ve seen some incredible presentations myself.
I guess Soros money doesn’t go as far as it used to. LOL
I agree...
Salon was never good anyway. Crappy website and publication.
Unexpected.
Wow. What a sick filthy degenerate disgusting slimy scumbag it would take to promote such horrid behavior or even to glorify in anyway the thought of such things.
Many in this culture of ours should be elimated starting with people like those in that article that would attempt to normalize such thoughts because any thinking person can see they are really wanting to promote the activities they “fantasize” about.
Salon should go for $1. like Newsweak.
perfect!!!
How embarrassing. There are many youtube people who make much more then this “professional” news site.
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