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 Companys 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…
Read the full article at: https://www.thewrap.com/salon-media-announces-5-million-sale-bankruptcy-and-liquidation-threatened-if-deal-fails/