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CBS Buys Wallstrip - Is The Future of New Media Outside the Valley?
By Rob | May 22, 2007
The rumors were true, CBS has acquired web stock show Wallstrip for $5 million. I think this is the first acquisition of a web show by a major media company. If not, it’s certainly the largest. It raises an interesting question as well… as “new media” grows at the intersection of tech (the valley) and media (new york), which will be the center of the new media world? My prediction is New York, but if you believe differently, I’d love to know why.
Topics: Strategy |
May 22nd, 2007 at 5:46 pm
I think the construct is no longer old vs. new media. Think small media/big media and look for more m&a and collaboration like this. Why would CBS spend money on building their own web content that may, or may not generate audience when they can simply cherrypick from the best and brightest out there.
I think we’ll be seeing a many more of these types of deals this year. I also think that geographic hubs of the Valley and New York are fine for the tech and finance niches, but there will be an explosion of growth in other targeted markets that, I suspect, will spread audiences and markets both geographically and demographically.