CBS Snaps Up Wallstrip
Wallstrip is a Web video show that, through its mix of “stock culture meets pop culture,” is closely associated with Wall Street. Now it’s also associated with CBS – although those two names aren’t so similar, CBS has just acquired the company for an unspecified amount.
|CBS Snaps Up Wallstrip|
Or, as Wallstrip’s founder, Howard Lindzon, puts it, “Yep, CBS has made the absolute genius decision to burn through a piece of their $1.8 billion in Cash Flow to buy/own Wallstrip.” Lindzon then mentions Jericho, a much-loved show that CBS cancelled, and Imus, the much-discussed DJ that CBS fired. These obviously aren’t typical we’re-a-happy-family press release subjects, but then again, Lindzon promises he’s “not playing favorites.”
The tone of Lindzon’s post becomes more positive towards the end, however; he calls a CBS price chart “perfect,” and adds, “I like their syndication strategy and I am bullish on Quincy and the Interactive Division of course.” Wallstrip is, of course, presumably now a part of the Interactive Division.
In fact, CNET’s Caroline McCarthy reports that “host Lindsay Campbell and producers Adam Elend and Jeff Marks will become full employees of CBS.”
But those few tidbits of information are all that’s surfaced so far. A slightly aged article from Jossip puts the Wallstrip purchase price at about $5 million, yet there’s been no confirmation of that nine-day-old report.
In any event, CBS has definitely acquired Wallstrip; the purchase may make the aging network – Lindzon even calls it “old media” – look just a tad younger.