It wasn't long ago a couple of analysts pulled a few blogs to the air hose and blew up their valuations. Michael Arrington's TechCrunch was among them with an MSRP of $100 million and CNet the prime candidate to buy. Then, this morning Arrington said something very curious.
24/7 Wall Street editor Douglas McIntyre suggested at the beginning of the month that CNet might be interested in TechCrunch, and set the price based upon revenue and low overhead.
This morning on Twitter, at about 5 a.m. California time (he must be excited to be Tweeting that early), Arrington says:
"I have a feeling some CNET news is coming today."
Foreshadowing or stating the obvious? As pointless as many people think Twitter is, and as innocuous as the Tweets there can be (announcements of "eating lunch" or "getting on a plane" are common), this statement strikes as a loaded one.
So, either there's news coming out on CNET like everyday, or something specific regarding Arrington and/or TechCrunch. A buyout?
UPDATE: I may have jumped the gun. A recent post at TechCrunch says CNet is sitting on a lot of cash, so there may be a stock buyback, which isn't nearly as exciting as what I thought. :-)
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