Fire Sale: A Flagship Of Liberal Media Blogging Has Been Sold

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Posted: May 20, 2019 1:25 PM
Fire Sale: A Flagship Of Liberal Media Blogging Has Been Sold

Source: Screenshot via Salon.com Hompage

Okay, so it took a couple of years, but Salon.com, an unabashed left-wing site, was in a dire financial situation. It was put up for sale for around $5 million. There was going to be a bankruptcy and liquidation sale if they can’t find a buyer. At zero hour, someone saved the site (via The Wrap):

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.

I mean one could wonder why Salon fell on hard times, but with headlines about how pedophiles can be good people, anecdotes about incest, some bizarre rants about how one’s dead child wasn’t in heaven or something, and whether it’s worth celebrating the birth of Christ, it’s truly a mystery (sarc). Hey, it’s a site that’s catered to liberal audiences and maybe a few crazy people. You can only bash Jesus so much, but the site did have its bright spots. No, I’m serious. One Bernie Sanders supporter was able to get his post published, where he argued that it was time for everyone to stop lying about Trump’s Mexico remarks:

 This is what Trump said:

“When do we beat Mexico at the border? They’re laughing at us, at our stupidity. […] When Mexico sends its people they’re not sending their best. They’re not sending you; they’re not sending you. They’re sending people that have lots of problems, and they’re bringing those problems with us. They’re bringing drugs. They’re bringing crime. They’re rapists, and some, I assume, are good people. But I speak to border guards and they tell us what we’re getting.”

You might well dislike Trump’s words. I did. But let’s not make it worse. He did not say that all Mexicans are rapists. Yet that’s what many commentators did. For example, Politico misquoted Trump by omitting his phrase about “good people.” They said he was “demonizing Mexicans as rapists.” They argued that Mexicans do not really commit more rapes in the U.S. than whites. But that’s not what Trump claimed.

Hey, even a blind squirrel finds a nut.