Reuters beats WSJ on KKR story in terms of analysis
TheStreet.com’s Marek Fuchs took a look Thursday at company announcements near the July 4th holiday and decided that some of them were intentionally released at that time to decrease coverage.
With one story, a Reuters wire article explained the significance, while The Wall Street Journal ignored the issue.
Fuchs wrote, “But I do want to point out what a good basic job Michael Erman did on this holiday issue, when KKR, looking to fly its public offering under the radar to avoid all the hullabaloo of the Blackstone offering which, among other things, set Congress sniffing around. Anyhow, by seeing the announcement through the lens of its holiday eve timing, look at how Erman advanced investors’ understanding:
The relatively modest size of the offering and the timing of the announcement — late on the eve of the U.S. Independence Day holiday — suggested that KKR hopes that its IPO will be a lower key affair than Blackstone’s, which attracted unwelcome attention from Congress.
“Even Wall Street Journal partner breakingviews.com, which The Business Press Maven normally likes, mentions the Tuesday afternoon timing without spelling out anything about its significance.
“Investors, heed the difference: Erman took The Wall Street Journal to school.”
Read more here.