Culture Salon Media in talks for $5M fire sale in last-ditch effort - Salon is going bankrupt

Fate of Salon Media?

  • Goes into the trash can of dead digital publications

    Votes: 44 40.4%
  • Bought by a bigger company

    Votes: 20 18.3%
  • Saved/revived by an affluent super-rich person (like George Soros)

    Votes: 45 41.3%

  • Total voters
    109

Un Platano

big blatano xDDDD
True & Honest Fan
kiwifarms.net
Unprofitable websites and publications that had any sort of traction at some point almost never die, they get bought up by a big media company and either shift their service to different regions (like livejournal or friendster) or they just rot until 10 years later they conclude that the website will never go anywhere again and pull the plug. I suspect the latter will happen because the only service Salon offers is being an online news website, which are a dime a dozen now.
$5 million is nothing to a company like Viacom or AT&T, and it doesn't cost anything to keep a company that is neither producing nor being consumed. They'll buy it simply because it adds another item to the long list of things they own, and the potential that it'll become popular in Indonesia in 8 years is a bonus.
 

Cho Chan

jesus tryna take th wheel but i wanna keep sinning
True & Honest Fan
kiwifarms.net
This site is from *1999*? I assumed all these shitty clickbait sites appeared in 2014.
 

Keystone

kiwifarms.net
This site is from *1999*? I assumed all these shitty clickbait sites appeared in 2014.
I think it'd be more accurate to say the shitty clickbait sites dropped any pretense of actual integrity, ethics, and journalistic investigation around 2014 or two years prior. A lot of them decided (or were told by their handlers) there was no need to keep wearing the veil of legitimacy after Black Jesus won his second term.
 
Last edited:

AprilRains

One shot is all I need!
True & Honest Fan
kiwifarms.net
The mystery buyers are two tech figures who claim they are apolitical.

Mystery suitors behind Salon Media $5M deal revealed as techies
By Keith J. Kelly
May 16, 2019 | 6:32pm | Updated

Enlarge Image

a computer keyboard

Shutterstock

Salon Media Group is being acquired for $5 million by a little-known pair of tech entrepreneurs who are meanwhile caught in a legal battle over their ownership stakes in fact-checking site Snopes.com, The Post has learned.
The winning bidders are Chris Richmond and Drew Schoentrup, who are the owners of Proper Media, a San Diego, Calif.-based ad tech firm that has been supplying ad and web design services to the struggling company for the past six months.
On Tuesday, The Post exclusively reported that Salon Media Group was being sold to an entity called Salon.com LLC. At the time, the names behind the LLC were still unknown.
“We’re doing it as individuals, 50-50,” said Richmond, who was reached Thursday at his home in San Juan, Puerto Rico. “Neither of us are political, but we like great internet brands.”
Three years ago, Richmond and Schoentrup ended up in a bitter legal battle with Snopes.com, the fact-checking site founded in the mid-1990s by husband and wife David and Barbara Mikkelson, who ended up in an acrimonious divorce in 2015.
Barbara Mikkelson sold her 50% stake to Richmond, Schoentrup and three minority partners, and several years of bitter litigation ensued.
At one point, Proper Media was withholding the ad revenue it collected for the company and Snopes was forced to set up a GoFundMe page to raise money that it needed to stay afloat. The site still survives, with David Mikkelson listed as founder and executive editor.
Richmond declined to comment on the case, which is set for trial in October in California state court.
Richmond said publicly traded Salon, which hasn’t filed any financial information in more than a year, is required to complete an audit and then get approval from the Securities and Exchange Commission before he and his partner take the struggling company private — “hopefully within 60 days.”
Jordan Hoffner, who was the CEO as well as the editor-in-chief, resigned on May 3, the company revealed in an SEC filing last week.
Erin Keane, who has been overseeing the day-to-day operations as deputy editor, will be promoted to editor-in-chief once the deal closes, Richmond said.
“We think we can turn a profit in year one,” Richmond said.
 
  • Thunk-Provoking
Reactions: GeneralFriendliness

break these cuffs

hit the three wheel motion
kiwifarms.net
It's not like anyone actually thought Snopes was this perfectly impartial, independent fact-checker.

Wait, did they? Because that would be fucking exceptional.
Snopes got the rep as The Fact Checker Site many moons ago and people take it on it on face value that an authority on the matter would be objective. I mean, they check facts!
 
  • Agree
Reactions: AprilRains

Sprig of Parsley

kiwifarms.net
Snopes got the rep as The Fact Checker Site many moons ago and people take it on it on face value that an authority on the matter would be objective. I mean, they check facts!
I'm just laughing at the idea that people care enough to go to a fact-checker but don't care enough to do the legwork themselves to figure shit out and build opinions of their own. "Just give me plausible deniability about being a fucking dipshit, please Snopes."
 
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