Mind your business.

Wednesday, April 11, 2012

Facebook makes tender offer for New York Times

The Old Gray lady up for sale?
Facebook CFO Doogie Howser announced Tuesday that the Silicon Valley-based social network site had commenced a tender offer for The New York Times Co, owner of the New York Times newspaper and website and other media properties. The offer was valued at $6.28 per share, for a total value of $926 million. Times shares closed at $6.27 in heavy trading yesterday, indicating that "event driven" hedge funds, a code name for inside trading arbitrageurs, had accumulated large positions in the company. "It's time to put that piece of shit out of its misery," said Mr Howser. "Let's face it. We have 850 million users. They have, what, like, 27 paid subscribers? And those are only the ones who are, like, too stupid to hack it for free. Nobody's going to, like, miss it."
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We Were Wall Street