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Salon.com Fire Sale - just $5M

By NoCoupForYou follow NoCoupForYou   2019 May 15, 12:00pm 276 views   2 comments   watch   nsfw   quote   share    

“We have agreed to sell substantially all of our assets,” the company says in a SEC filing

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.
1   Tenpoundbass   ignore (14)   2019 May 15, 12:04pm     ↓ dislike (0)   quote   flag      

They were the Greedy Bastards to start the first Paywall for biased News.

May they rot in a septic tank of History of failed Liberal enterprises.
2   Ceffer   ignore (5)   2019 May 15, 1:39pm     ↓ dislike (0)   quote   flag      

What's the going rate for slightly tarnished and tattered LibbyFuck agitprop puppets? Shouldn't the CIA and the NSA be giving them cash infusions to keep them going?

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