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Scout Bankruptcy OFFICIAL

There are a LOT of people smarter than me on here, what does this all mean?

https://thestreet.com/story/13931921/1/scout-media-can-use-bankruptcy-loan.html

One paragraph actually makes it sound like someone could go in and buy Dawgman if Kim cashed an emergency check:

"Wiles gave Scout the green light to make about a $750,000 critical payment to its website publishers at the end of the month. The caveat is that if they cash their monthly checks, Scout's publishers will consent to having the websites they run be assigned to whoever purchases them at auction."
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Comments

  • topdawgnc
    topdawgnc Member Posts: 7,839
    Those fucking Russians are at it again!!!!!

    a takeover of the company by Russian investors.
  • Sources
    Sources Member, Swaye's Wigwam Posts: 4,344 Founders Club

    It's sad to see how far Kim Grinolds has fallen.

    It's not sad in the least.
  • Mosster47
    Mosster47 Member Posts: 6,246
    I wonder how much they could be bought for? eDuck is dead. I would like to turn it into something enjoyable.
  • EsophagealFeces
    EsophagealFeces Member Posts: 13,168

    It's sad to see how far Kim Grinolds has fallen.

    If by sad you mean NTD, BB worthy, then agree.
  • EsophagealFeces
    EsophagealFeces Member Posts: 13,168

    It's sad to see how far Kim Grinolds has fallen.

    If by sad you mean NTD, BB worthy, then agree.
    FMAAWRITPADOO
  • TierbsHsotBoobs
    TierbsHsotBoobs Member Posts: 39,680

    Harv should buy Dawgman at auction

    I volunteer to evict them

  • TierbsHsotBoobs
    TierbsHsotBoobs Member Posts: 39,680
    Mosster47 said:

    I wonder how much they could be bought for? eDuck is dead. I would like to turn it into something enjoyable.

    The color scheme is already citrus friendly
  • Tequilla
    Tequilla Member Posts: 20,102
    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.
  • Mosster47
    Mosster47 Member Posts: 6,246

    Mosster47 said:

    I wonder how much they could be bought for? eDuck is dead. I would like to turn it into something enjoyable.

    Buy the domain and redirect it to lemonparty.org a la www.uwrejects.com
    That website is only worth $1,500 at most. Steve will want more than $10k for it though.
  • AEB
    AEB Member Posts: 2,994
    Tequilla said:

    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...
  • Pitchfork51
    Pitchfork51 Member Posts: 27,662
    I'm a huge fan of the ASU scout pay site.
    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.

  • TurdBomber
    TurdBomber Member Posts: 20,041 Standard Supporter

    It's euphoric, hilarious and just to see how far Kim Grinolds has fallen and can't get up.

    image

  • phineas
    phineas Member Posts: 4,732
    Mosster47 said:

    I wonder how much they could be bought for? eDuck is dead. I would like to turn it into something enjoyable.

    Tubgirl revival?
  • H_D
    H_D Member Posts: 6,098

    Listen to the bell, Grinolds...it tolls for thee.

    Quoth the Raven, "Your* fucked now. Time to step up your Real Estate selling game."
  • Tequilla
    Tequilla Member Posts: 20,102
    AEB said:

    Tequilla said:

    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...
    AEB said:

    Tequilla said:

    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
  • PurpleReign
    PurpleReign Member Posts: 5,479
    Forums in general are going to follow Blockbuster if they don't evolve with the times.
  • Mosster47
    Mosster47 Member Posts: 6,246

    Forums in general are going to follow Blockbuster if they don't evolve with the times.

    Netflix?
  • LoneStarDawg
    LoneStarDawg Member, Swaye's Wigwam Posts: 13,681 Founders Club
    Mosster47 said:

    Forums in general are going to follow Blockbuster if they don't evolve with the times.

    Netflix?
    Autzen parking lot knows how to hardcore husky and chill
  • bananasnblondes
    bananasnblondes Member Posts: 15,515
    So what happens to Biggins, Huffman, and the guys who actually work for Scout?