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Doubledown Unable to Sell Magazine Assets

first_imgAt an auction held late last week in U.S. bankruptcy court in New York, Doubledown Media, a publisher of magazines aimed at the Wall Street elite that went out of business in February, did not receive any “acceptable” bids for its remaining magazine assets, including subscriber lists.“One bidder made an offer but it was not acceptable to the trustee,” Andrea Fisher, a senior attorney with Squire Sanders & Dempsey—the firm representing Doubledown’s trustee—told FOLIO:. “The trustee will continue to entertain offers for the assets. We’ve received some inquires and the hope is that the assets sell, which will provide a distribution to [Doubledown’s] creditors.”According to the auction notice, the minimum bid for Doubledown’s Dealmaker was $100,000. For Corporate Leader and Trader magazines the lowest acceptable bid was $50,000. The minimum bid for Cigar Report was $25,000. Corporate Air, meanwhile, carried a minimum bid of $55,000. Doubledown previously received an offer from a company called Private Air Media—which is headed by the magazine’s founder Dee Dee Morrison—and Knight Images Inc., for $50,000.The minimum bid for all five titles was $300,000, or the aggregate amount of the highest bids for each property plus $20,000, the notice said.A Once-Rising Publisher Hits BottomCiting “unprecedented times,” Doubledown went out of business in February and filed for Chapter 7 bankruptcy liquidation not long after. “The combination of the media depression, the Wall Street implosion and the credit slowdown were collectively too much for our company—probably any company in our shoes—to overcome,” president Randall Lane wrote in an e-mail to staffers at the time.According to court documents obtained by FOLIO: this spring, more than 350 claims totaling $4 million have been made against Doubledown, including those from a group of ex-employees, investors, three printers, vendors, designers, writers, lawyers and more. Nearly half of Doubledown’s assets include $1,013,520.43 in accounts receivable—money Doubledown has yet to be paid.In terms of the bankruptcy proceedings, the sale hearing has been adjourned until October 6, Fisher said.last_img read more

At CES 2019 I found a suitcase with ears that wiggle when

first_img 0 CES 2019 Now playing: Watch this: Tags 5:32 I came across a suitcase with ears that wiggle when petted #ces2019 pic.twitter.com/ZJJWQfmoON— Patrick Holland (@trickholland) January 10, 2019 All the cool new gadgets at CES 2019 Share your voice Fravel is a suitcase with ears that move and a heart that beats. Fravel Last night, outside the exhibition hall at the Sands Hotel in Las Vegas, I had what can only be classified as a “CES moment.” Sprawled across the lobby were five candy-colored suitcases with ears. As I got closer, I noticed that ears wiggled back-and-forth whenever someone petted the suitcase. It turns out this was a Fravel suitcase designed to be a pet you travel with. Fravel’s website describes the case as “everything you like about your pet without the messy part.” Fravel The ears are squishy and move whenever you pet or walk with the case. The ears even do a dance when Fravel is super-happy. If that’s not adorable enough, there is a light-up heart that beats to show off how excited Fravel is to be going on an adventure. Oh, and I have to mention that there are cat paw feet to house the wheels. The ears detach to fit Fravel into an airplane’s overhead storage. The suitcase has a battery that powers the ears and the light-up heart. The Fravel suitcase starts at $299, which converts roughly to £235, AU$415, and can be ordered on Fravel’s website. CES Products CES 2019: Every story so far: See all of CNET’s coverage of the year’s biggest tech show.  CES 2019 schedule: It’s six days of jam-packed events. Here’s what to expect.  CES 2019: A pet dryer, a bed that rocks you to sleep… Post a comment 85 Photos Gadgetslast_img read more