Pornhub Owner MindGeek Sold to Canada's Ethical Capital (opens in new tab)

The shell company as ablative material. You recreate new companies, which then "buy" the shunned buisness, while the old company is dissolved the new "hull" takes the fire and is then sold on to the next, new hull. Rinse and repeat till heat death or protestant ethics accepting sex-work as a normal part of human behaviour.

tl:dr: SPAC likely

> If these are the same people, two years apart, what plan might they have for MindGeek? The previous plan was simple: restructure, “rehabilitate its reputation,” and flip it or merge it with a SPAC, according to a slide deck obtained as part of a late 2021 investigation by The Logic. The idea was called Project Narsil, a reference to the broken sword in The Lord of the Rings, and suggested that “the acquisition target is one of the most recognized and undervalued brands in the adult entertainment and technology sector.”