In the short term it’s not an issue, but how can it sustain? With the news that Google is opening up YouTube to long-form video and based on the reactions in the articles below to Ken Auletta’s interview with CEO Eric Schmidt, it’s gotta make you wonder…
I began this post months ago and never posted it. Now it’s all but confirmed that BuzzNet FULLY owns Stereogum and on top of that Just received up to $25 million in funding. This according to Rafat Ali of paidcontent who is sitting right next to me at the Community Next conference.
We have confirmed through sources that Buzznet now fully owns Stereogum. Not sure how this plays into the new funding, but the financing may be used in making some other music and entertainment related content acquisitions and possibly rollups, our sources say.
Dow Jones owns the Wall Street Journal, among other things, and Murdoch’s News Corp. bends the rules of media ownership with it’s massive stable of multiple media in practically every English speaking market worldwide. Just who does that include? It’s all on this list.
The Bancroft family (which controls Dow Jones), along with practically the entire staff of the Wall Street Journal, currently oppose News Corp.’s offer, while others — like analyst Mort Zuckerman — are calling Murdoch “brilliant.”
It may seem insulting to WSJ writers to be threatened with ownership by the likes of the mogul who has turned the likes of the New York Post into practically a supermarket tabloid. But more important and influential could be the residual effect of Murdoch’s lofty valuation of Dow Jones on the struggling (by Wall Street standards) newspaper industry.