It looks like KJV and company will get their pay checks ...
However, if they cash the checks they are basically bounded to the wishes of the buyer and have no way to leave (likely have non competes in place as well) ...
If they don't cash the checks, I'd imagine that they would have the option to either pull their site from the network as an independent or enter into an agreement with the new buyer. A prudent owner would make sure that they negotiated an out clause for themselves in case of a situation like this ... and if not, would have secured some kind of up front benefit.
Dawgman has no leverage. They either accept payment, which they'll likely have to given payroll needs, or not. If they don't accept payment, they can leave once the ownership transfer occurs, but the timing of the ownership transfer is TBD. Either a buyer will emerge or the DIP loan holders will assume ownership. But that could be a few months. Dawgman would have to meet its own financial obligations without the residual payment from scout for an undetermined time period. Better start selling advertising to the Dub Pub again...
It looks like KJV and company will get their pay checks ...
However, if they cash the checks they are basically bounded to the wishes of the buyer and have no way to leave (likely have non competes in place as well) ...
If they don't cash the checks, I'd imagine that they would have the option to either pull their site from the network as an independent or enter into an agreement with the new buyer. A prudent owner would make sure that they negotiated an out clause for themselves in case of a situation like this ... and if not, would have secured some kind of up front benefit.
Dawgman has no leverage. They either accept payment, which they'll likely have to given payroll needs, or not. If they don't accept payment, they can leave once the ownership transfer occurs, but the timing of the ownership transfer is TBD. Either a buyer will emerge or the DIP loan holders will assume ownership. But that could be a few months. Dawgman would have to meet its own financial obligations without the residual payment from scout for an undetermined time period. Better start selling advertising to the Dub Pub again...
Exactly ... a smart business would have started planning for this the last few months at minimum
It looks like KJV and company will get their pay checks ...
However, if they cash the checks they are basically bounded to the wishes of the buyer and have no way to leave (likely have non competes in place as well) ...
If they don't cash the checks, I'd imagine that they would have the option to either pull their site from the network as an independent or enter into an agreement with the new buyer. A prudent owner would make sure that they negotiated an out clause for themselves in case of a situation like this ... and if not, would have secured some kind of up front benefit.
Dawgman has no leverage. They either accept payment, which they'll likely have to given payroll needs, or not. If they don't accept payment, they can leave once the ownership transfer occurs, but the timing of the ownership transfer is TBD. Either a buyer will emerge or the DIP loan holders will assume ownership. But that could be a few months. Dawgman would have to meet its own financial obligations without the residual payment from scout for an undetermined time period. Better start selling advertising to the Dub Pub again...
It looks like KJV and company will get their pay checks ...
However, if they cash the checks they are basically bounded to the wishes of the buyer and have no way to leave (likely have non competes in place as well) ...
If they don't cash the checks, I'd imagine that they would have the option to either pull their site from the network as an independent or enter into an agreement with the new buyer. A prudent owner would make sure that they negotiated an out clause for themselves in case of a situation like this ... and if not, would have secured some kind of up front benefit.
Dawgman has no leverage. They either accept payment, which they'll likely have to given payroll needs, or not. If they don't accept payment, they can leave once the ownership transfer occurs, but the timing of the ownership transfer is TBD. Either a buyer will emerge or the DIP loan holders will assume ownership. But that could be a few months. Dawgman would have to meet its own financial obligations without the residual payment from scout for an undetermined time period. Better start selling advertising to the Dub Pub again...
Exactly ... a smart business would have started planning for this the last few months at minimum
You have referred to a smart business owner and a prudent business owner twice in this thread. You realize we are talking about Kent fucking Griswold here, right? Neither of those descriptions apply.
It looks like KJV and company will get their pay checks ...
However, if they cash the checks they are basically bounded to the wishes of the buyer and have no way to leave (likely have non competes in place as well) ...
If they don't cash the checks, I'd imagine that they would have the option to either pull their site from the network as an independent or enter into an agreement with the new buyer. A prudent owner would make sure that they negotiated an out clause for themselves in case of a situation like this ... and if not, would have secured some kind of up front benefit.
Dawgman has no leverage. They either accept payment, which they'll likely have to given payroll needs, or not. If they don't accept payment, they can leave once the ownership transfer occurs, but the timing of the ownership transfer is TBD. Either a buyer will emerge or the DIP loan holders will assume ownership. But that could be a few months. Dawgman would have to meet its own financial obligations without the residual payment from scout for an undetermined time period. Better start selling advertising to the Dub Pub again...
It looks like KJV and company will get their pay checks ...
However, if they cash the checks they are basically bounded to the wishes of the buyer and have no way to leave (likely have non competes in place as well) ...
If they don't cash the checks, I'd imagine that they would have the option to either pull their site from the network as an independent or enter into an agreement with the new buyer. A prudent owner would make sure that they negotiated an out clause for themselves in case of a situation like this ... and if not, would have secured some kind of up front benefit.
Dawgman has no leverage. They either accept payment, which they'll likely have to given payroll needs, or not. If they don't accept payment, they can leave once the ownership transfer occurs, but the timing of the ownership transfer is TBD. Either a buyer will emerge or the DIP loan holders will assume ownership. But that could be a few months. Dawgman would have to meet its own financial obligations without the residual payment from scout for an undetermined time period. Better start selling advertising to the Dub Pub again...
Exactly ... a smart business would have started planning for this the last few months at minimum
You have referred to a smart business owner and a prudent business owner twice in this thread. You realize we are talking about Kent fucking Griswold here, right? Neither of those descriptions apply.
So what happens to Biggins, Huffman, and the guys who actually work for Scout?
They are likely tied to some kind of employment contract ... Biggins probably has some form of legit contract whereas Huffman is probably more of an at will employee.
The debtor went through a period of upheaval in July when founder and CEO Jim Heckman was ousted. Scout has claimed that Heckman was fired for cause and allegedly misused corporate funds for personal expenses.
Emails obtained by sports media blog AwfulAnnouncing.com showed Heckman calling his ouster "pure fraud" and the website's product and engineering staff resigning en masse over Heckman's firing and a takeover of the company by Russian investors.
The product staff also alleged they had been receiving paychecks late and had been locked out of Scout's Seattle office after they asked the board of directors to be paid on time.
Heckman founded Scout in 2001 and sold it to News Corp.'s (NWSA) Fox Sports in 2005 for about $60 million. Pilot Group-backed North American Membership Group bought Scout back in 2013 for an undisclosed price and installed Heckman as CEO.
Comments
Which is why all the Kim shit cracks me up because it's the exact opposite.
"What I'm hearing...." and the whole man up and use your real name still gets me.
This is simply a savvy strategic business maneuver by tLPT