Silicon Alley Insider, the excellent tech/software/Internet blog today made a far less than sincere offer to buy the New York Times' web properties for $1 billion.
Henry Blodget writes:
"after you back out all the non-core stuff, that means that the New York Times itself--the paper and the digital assets--are valued at about $750 million. That's less than half of what CBS just paid for CNET...
So how about it, Janet and Arthur? $1 Billion. More than a third of the current enterprise value of your entire company--just for the web site! You get to keep the paper, the building, the Red Sox, the Boston Globe. It's the deal of a lifetime!"
It is a valuable property. I am generally not in favor of companies breaking up to enhance shareholder value. There must be some synergies. But with traditional media valuations where they are and the decline in the non-digital ad business, it may be smart and funny.
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