Will CBS buy WallStrip? May 14, 2007Posted by John in Technology.
There’s lots of power in online video these days. As first reported by gossip-site Jossip
it seems as CBS News is buying WallStrip, the online Wall Street video program featuring Lindsay Campbell trying to find the comic view on Nasdaq. According to Jossip the price-tag is in the $5 million range.
At TechCrunch Duncan Riley confirms the rumor: “I spoke to some one close to the deal who confirmed Jossip’s story. He told me that New York based Venture Capitalist Fred Wilson, who had previously invested $500,000 in WallStrip, negotiated and sealed the deal,” he writes.
According to Riley the deal is said to be focused on signing Lindsay Campbell, since CBS wanted to have her on board. Jossip also writes that the deal is said to involve Campbell being the next Amanda Congdon: frontin’ for CBS’s web initiatives.
However Fred Wilson (with Union Square Ventures) himself, blogging at A VC, says that being an angel investor in WallStrip he personally invested less money than reported half a million dollars. He adds that he has not negotiated any deal to sell the company. When it comes to the rumors of the deal itself he declines to comment: “I guess time will tell if they are accurate or not,” Wilson writes.
At Wired blog Epicenter Adario Strange also examines the facts of the possible deal, saying he got in touch with both Lindsay Campbell and Fred Wilson Sunday night. The comments were surprisingly non-committal, he writes. “Campbell said, “I can’t confirm anything at this time…” and Wilson only offered the odd comment, “It’s just a rumor this point, but if there is any truth to it, I’d be happy to talk about it…”
Given the answers, Stange’s analysis goes like this: We can deduce that 1) given the absence of denial, a CBS deal has probably been discussed, 2) whatever deal Wallstrip has in play is probably not completely finalized in terms of deal points and legalities. The one thing that everyone floating this rumor has right is that the proposed acquisition price of $5 million would be a windfall for the video podcast category.
Rumors travel fast. This story is right now being discussed among bloggers and reporters at TechMeme. The discussion is mirroring the great power in online video. At PodTech we know it is the media of the future.
By John Furrier and Tina Magnergard Bjers