Industry Standard Assets Up for Auction
A little more than a month after ceasing publication, The Industry Standard expects that its assets will be sold today in a San Francisco bankruptcy court.Those assets include The Standard's trademarks, domain name and subscriber lists, according to a Sept. 6 motion filed by parent company Standard Media International.
"More than 25 parties have expressed interest in the assets," said Ann-Marie McGowan, CEO of The Standard. "We expect to sell the assets on Monday -- they may be sold as a package or individually. Beyond that, I really have no comment."
An ad in Friday's Wall Street Journal also announced the pending sale, set for 10 a.m. at the U.S. Bankruptcy Court for the Northern District of California.
One of The Standard's attorneys was optimistic about its prospects of completing the sale.
"It's a court-supervised kind of free-for-all," said Andrea T. Porter, an attorney with Murphy Sheneman Julian & Rogers, representing The Standard. "I think we've got a lot of interest, and the people who are interested are going to be showing up in court on Monday and we'll see what happens."
