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Variety! Waypoint! Kotaku! Write-Offs, Shutdowns, Layoffs, and Restructuring: A Lawyer's Perspective

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2y May 12, 2019
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On May 10th, 2019, Variety Gaming's Brian Crecente announced via Twitter that Variety Gaming would be "reassessed" after E3 and he would no longer have a job.

On May 6th, 2019 Waypoint announced that it was losing it's name and domain and folding into parent media company Vice.

On April 8, 2019, Kotaku (along with the rest of the Gizmodo group) was sold to a Private Equity Firm.

Whether or not you like or agree with the output of any of these outlets, it is undoubtedly clear that coverage of the industry is changing and will continue to change.

What is happening and why?

What does it mean that Disney has given its Vice investment a complete "write off"?

How does it effect channels like this one?

And why should you very much care?

After all, Variety is the spice of life.

It's time for Virtual Legality.

#VarietyGaming #Waypoint #Journalism


Discussed in this episode:

"What We Can Learn From a Game Studio Co-Founder’s Public Tirade"
Variety Gaming - May 10, 2019 - Michael Futter
(https://variety.com/2019/gaming/columns/what-we-can-learn-from-a-game-studio-co-founders-public-tirade-1203211122/)

"I see word is getting out about Variety Gaming. Good news bad news."
Tweet from Brian Crecente - May 10, 2019
(https://twitter.com/crecenteb/status/1126943334503735296)

"Waypoint Is Joining the New VICE [dot] com"
Waypoint - May 6, 2019 - Austin Walker
(https://www.vice.com/en_us/article/3k3b9k/waypoint-is-joining-the-new-vicecom)

"Disney put more than $400 million into Vice Media. Now it says that investment is worthless."
Vox - May 8, 2019 - Peter Kafka
(https://www.vox.com/recode/2019/5/8/18537617/disney-vice-write-off-400-million)

Walt Disney Company Form 10-Q
For the quarterly period ended March 30, 2019
(https://www.sec.gov/ix?doc=/Archives/edgar/data/1744489/000174448919000100/fy2019q210qdoc.htm)

"Write-Down"
Investopedia - Updated March 31, 2019
(https://www.investopedia.com/terms/w/writedown.asp)


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!


FOR MORE CHECK US OUT:

On Twitter @hoeglaw

At our website: https://hoeglaw.com/

On our 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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