Sex.com Sale Approved, Creditors to Get $10 Million

LOS ANGELES — The sale of Sex.com to Clover Holdings for $13 million has been approved by a bankruptcy court.

Upon completion of the sale, Sex.com owner Escom will pay out more than $10 million to its creditors.

Washington Technology Associates will receive $6.3 million and DOM partners will get $3.7 million.

Sedo also gets just under 10 percent, its commission for brokering the deal.

Another $2 million has been set aside until an objection filed by Nuthin’ But Net is resolved.

Earlier this week, Nuthin’ But Net filed a motion objecting to the purported amounts claimed by the secured lenders and asserted the purported creditor iEntertainment’s claims should be disallowed because its note was wrongfully obtained.

The motion also accused investor Mike Mann of “self-dealing,” an allegation Mann denies.

Related:  

Copyright © 2024 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

Justices Alito, Thomas Invoke Victorian-Era Morality Law, Raising Censorship Concerns

Several national publications reported this week on widespread concern among Free Speech advocates after U.S. Supreme Court Justices Samuel Scalia and Clarence Thomas repeatedly invoked during a hearing the infamous segregation-era law the Comstock Act, which was the cornerstone of U.S. censorship of sexual material from the 1870s until the 1970s.

Skinfluential Management's FansFuel Acquires Fanwire

FansFuel has acquired creator account management tool Fanwire.

Nebraska AV Bill Moves Forward Despite Privacy, Free Speech Concerns

Nebraska’s unicameral Legislature has given first-round approval to LB 1092, the state’s version of the age verification bills being sponsored around the country by anti-porn religious conservative activists.

AEBN Celebrates 25th Anniversary

The Adult Entertainment Broadcast Network (AEBN) is celebrating its 25th year in business this week.

Performers in Meta Blacklisting Lawsuit Seek to Preserve Antitrust Claims

Adult Performance Artists Guild board officers Alana Evans, Kelly Pierce and Ruby have informed a California court that, although they want to drop their lawsuit claiming that Meta conspired with OnlyFans to blacklist rival premium fan platforms’ talent, they may still pursue antitrust claims in the future.

FSC, Co-Plaintiffs to Ask US Supreme Court to Review Constitutionality of Texas Age Verification Law

Free Speech Coalition (FSC) and its co-plaintiffs in the challenge to Texas’ controversial age verification law have petitioned the United States Court of Appeals for the 5th Circuit to stay its recent decision upholding the law, because they intend to appeal to the U.S. Supreme Court to review the law’s constitutionality.

FSC Vows to Fight Florida Age Verification Law

Free Speech Coalition (FSC) has issued a statement vowing to continue fighting Florida’s new age verification law, which was signed by Gov. Ron DeSantis on Monday as part of a comprehensive bill targeting minors’ use of social media.

Kansas Republican Aims to Create New Bureaucracy to 'Investigate' Porn Websites

Republican state legislators succeeded Monday in moving forward Kansas’ version of the age verification bills being sponsored around the country by anti-porn religious conservative activists, despite serious concerns raised by House Democrats about the cost of establishing a new bureaucracy tasked with investigating websites for pornographic content.

SK Intertainment Launches 'Skinfluential Management' Agency, FansFuel Joint Venture

Mr. Skin/Mr. Man parent company SK Intertainment has launched new creator agency Skinfluential Management, as well as a new joint venture with Showbizz Media's creator stats and affiliate marketing platform, FansFuel.

Industry Attorney, Free Speech Champion Clyde DeWitt Passes Away at 75

Noted industry attorney Clyde DeWitt passed away on Friday in Las Vegas at 75, according to friends and colleagues.

Show More