xy.com, an online magazine that targeted young gay men between the ages of 13-17, stopped publishing in 2007. It filed for bankruptcy and its creditors are going after company assets, including members’ personal information, names, addresses, emails, anything that members entered into profiles. For social media sites, the user generated content is the most valuable asset but this does raise the issue of who takes possession of that information should the site fail. The Federal Trade Commission is investigating whether the seizure of member information is legal.
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