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Society & Culture
Virtual Legality Episode 47

Gizmodo Group Sold! What is "Private Equity" Anyway?

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2y Apr 9, 2019
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With the sale of the Gizmodo Group, some of the Internet's favorite "blog-style" journalistic hot spots are now in the hands of a little known private equity firm. But if the firm itself is little known, what the sale actually means (or could mean) is even less understood.

What is "private equity"? How does it work? How are funds formed? And how does corporate law and tax regulation inform their creation?

What does this mean for Kotaku, Gizmodo, Jezebel, Deadspin, The Onion, and the rest of the acquisition group?

And why might it not be the doom that some fear, when other private equity targets (such as Toys R Us) fell to bankruptcy shortly after their acquisition?

#Gizmodo #PrivateEquity #VirtualLegality


Discussed in this episode:

"Gizmodo Media Group is sold to a private equity firm, and Univision is out of the English-language website business"
NiemanLab - April 8, 2019
(https://www.niemanlab.org/2019/04/gizmodo-media-group-is-sold-to-a-private-equity-firm-and-univision-is-out-of-the-english-language-website-business/)

"Anytime I see a private equity firm sink their teeth into a company I worry..."
Twitter Thread - April 8, 2019 - Mike Futter
(https://twitter.com/Futterish/status/1115383182235525121)

"The Demise of Toys ‘R’ Us Is a Warning"
The Atlantic - July/August 2018
(https://www.theatlantic.com/magazine/archive/2018/07/toys-r-us-bankruptcy-private-equity/561758/)

"Heard price was [less than] $50mm."
Twitter Thread - April 8, 2019 - Peter Kafka
(https://twitter.com/pkafka/status/1115241421550882816)

"Private Equity"
Investopedia Entry - Updated March 13, 2019
(https://www.investopedia.com/terms/p/privateequity.asp)

"About Us"
Great Hill Partners Website
(https://www.greathillpartners.com/about-us/)


PODCAST VERSIONS AVAILABLE AT

Spotify: (https://open.spotify.com/show/3qsDhQ7h6BR2wLyNQYDWB4)

iTunes:
(https://itunes.apple.com/us/podcast/virtual-legality/id1448785539?mt=2)

SoundCloud:
(https://soundcloud.com/user-510342404)

Google Play Music:
(https://play.google.com/music/listen#/ps/In3d7qersx72lvzehxo7gu6cd5u)


"Virtual Legality" is a continuing series discussing the law, video games, software, and everything digital, hosted by Richard Hoeg, of the Hoeg Law Business Law Firm (Hoeg Law).

Rick has practiced for more than a decade at some of the country's largest law firms, representing IT, software, video game, and other technology companies, as well as the individuals and institutions which fund them.

DISCUSSION IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TO BE CONSTRUED AS LEGAL ADVICE. INDIVIDUALS INTERESTED IN THE LEGAL TOPICS DISCUSSED IN THIS VIDEO SHOULD CONSULT WITH THEIR OWN COUNSEL.

Any and all feedback is appreciated. Let us know what you think!


Blog, "Rules of the Game", at https://hoeglaw.wordpress.com/

On "Help Us Out Hoeg!" a regular segment on the Easy Allies Podcast (formerly GameTrailers)

(https://www.youtube.com/channel/UCZrxXp1reP8E353rZsB3jaA)

Biweekly on "Inside the Huddle with Michael Spath" on WTKA 1050

About Hoeg Law

The Hoeg Law Firm is a business law firm with big law experience and a small firm approach focusing on start-ups, technology, financing, and everything else a business might need.


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