Categories: OLD Media Moves

TheStreet.com shareholder: We will go to other investors

Mark Waller of The Times-Picayune got in touch with the New Orleans-based investment company that wants to acquire TheStreet.com and found them settling in for a long fight.

Waller writes, “That might be what Perkin and Bienvenu will seek to do with at least some of the operations of TheStreet through their new partnership, which uses a strategy they call ‘transaction oriented activism,’ meaning they want to improve the financial success of companies not only by voicing their arguments as shareholders but by buying the companies, perhaps taking publicly traded companies private, or accommodating other sales.

“Perkin and Bienvenu said they hadn’t received a response from TheStreet’s board as of Wednesday. A spokeswoman for the TheStreet said the company did not have any comment. Cramer’s television show is a separate entity from TheStreet, which provides business and financial news and information through digital channels.

“Though it might seem unlikely that a New Orleans investment firm will acquire TheStreet, Bienvenu said they plan to be persistent.

“‘We’re not going away, so the company will respond eventually,’ he said.

“‘We believe there’s value here'” Bienvenu said. ‘We believe there’s money to be made.’

“If the company doesn’t respond, they said, they will consider making an unsolicited bid to buy it.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

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