CNET founder Halsey Minor files for bankruptcy

Halsey Minor, the CNET founder who accumulated a fortune in the tech industry, has filed for bankruptcy in Los Angeles.

In the personal bankruptcy filing May 24, Minor cited $50 million to $100 million in liabilities with 60 creditors, and assets of $10 million to $50 million.

Among his listed creditors are the California Franchise Tax Board, the Internal Revenue Service, Bank of America, HSBC Bank and Sotheby’s Inc., among others.

Quiz: How much do you know about Internet sales taxes?

Last year, Minor and his wife, Shannon, were listed as California’s top income-tax delinquents, owing the state $10.5 million.

Minor, who sold his stake in the news website CNET to CBS in 2008 for $1.7 billion, has been embroiled in several legal disputes in the last few years, including lawsuits with Sotheby’s over his purchase of three expensive paintings.

He also launched expensive ventures into hotel management and horse breeding.

In an email statement sent to reporters, Minor said: “A case might have been made that I should never have strayed from technology. However, I like doing things outside my comfort zone, and I believe that willingness in part accounts for my tech successes.”

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