Monday, November 20, 2006
Private Equity and Old Media
Noted, from the New York Times:
“The more people disparage ‘old media,’ the happier I am,” said Robert Berner, managing director of Ripplewood. “These companies don’t require a lot of capital investment. They sell subscriptions, so you get the money upfront and deliver the product over time. They generate a lot of cash, so they make great buyout candidates, and you can get them at reasonable prices, because everyone else is focused on buying shares of Google.”
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“The more people disparage ‘old media,’ the happier I am,” said Robert Berner, managing director of Ripplewood. “These companies don’t require a lot of capital investment. They sell subscriptions, so you get the money upfront and deliver the product over time. They generate a lot of cash, so they make great buyout candidates, and you can get them at reasonable prices, because everyone else is focused on buying shares of Google.”
