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CNET Co-Founder Files Bankruptcy

by James Denison / May 30, 2013 1:46 AM PDT
Halsey Minor filed for Chapter 7 bankruptcy last week in U.S. Bankruptcy Court in Los Angeles, Venture Capital Dispatch has learned. Minor lists his liabilities as $50 million to $100 million, primarily in business debts, with assets in the $10 million to $50 million range.

Minor was an early investor in Salesforce.com and founded CNET Networks, a news website that he sold to CBS in 2008 for $1.8 billion.

The bankruptcy petition lists more than 50 creditors
Under Chapter 7 a trustee is appointed by the court to liquidate the debtor's assets for the benefit of creditors.

Effect on Palmeri, another founder.
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