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Hedge Fund Taking Over Salon Media

by nypost.com posted 1year ago 224 views
Spear Point is going to officially assume control of the Salon Media board Friday and Silicon Valley billionaire John Warnock, a co-founder of Adobe, is expected to step down as chairman, The Post has learned. Warnock and another member of Silicon Valley royalty, Bill Hambrecht, had been funding the left-leaning news and opinion site for years. In a shakeup in November, Warnock, Hambrecht and other debt holders swapped their debt for equity. Warnock ended up with 50 percent of the common stock. Hambrecht who was an advisor to IPOs for Apple, Google and countless others, ended up with 32 percent...

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