Mike Magee sells the Inq

[Ali]

http://theinq.com/?article=29280

Interesting

Ali

 

[maaoouud]

Interesting to say the least. Hopefully this will reduce the pressure on them to put out X articles per day and remove the more outlandish rumours. I like that they supply most of the rumours going around, since many people would not have access to them otherwise, but sometimes it really seems some people are just filling their quotas. Like when that same rumour is published for the 3rd time. Or the 4th. 5th. 6th time.
Oh and Hi Fudo! Not saying you should take away your livelyhood but please constrain yourself.

Some people don't like that they publish rumours, but if you're able to tell the difference between what's actually likely to be right it's a goldmine for information. And if you don't like it there's plenty of other sites out there publishing a steady stream of information.

 

[Geo]

It doesn't quite say what, if anything, this means as to personnel. Is Mike staying on to run it? Does it maintain a more or less indepedant operation? At one point it sounds like it, but it isn't real clear.

 

[neliz]

VNU publishing isn't doing too well.. I thought there was a 7.9 billion euro bid on it..

 

[Pete]

indepedant

Now that's an interesting word in the context of a news journal / rumor mill / op ed collection. :smile:

 

[DudeMiester]

The real question is if VNU will do to The Inq what EA does to it's purchases. I really hope the NDA policy and funny articles remain the same at The Inq.

 

[Kanyamagufa]

I really hope the NDA policy and funny articles remain the same at The Inq.

I completely agree. Even with as much shit as we give Fuad and the other writers over there, they do supply us with a great amount of humor whether it's intended or not. I personally look forward to loading up that page each day to see what craziness they've published next.

Here's to hoping it retains that quality.

 

[Farid]

VNUnet Publishing is going to kill it.
Well, they'll keep the URL/Name and turn the thing into another generic news + rumor site.

And how much money did Magee made out of this deal?
If he made more than 25 bucks, 55 cents plus a snicker bar, I'll start my rumors/BS site right away! I hear as much if not more stuff as they do, and I have a lot of imagination when it comes to lies.

 

[Druga Runda]

I completely agree. Even with as much shit as we give Fuad and the other writers over there, they do supply us with a great amount of humor whether it's intended or not. I personally look forward to loading up that page each day to see what craziness they've published next.

Here's to hoping it retains that quality.

I hope for the same

 

[Druga Runda]

here is a bit more about the deal from the Graudian

http://business.guardian.co.uk/story/0,,1695669,00.html

VNU was subject to 5bn takeover deal that did not happen, I guess, and Mike Mageek still stays the editor and I bet he collected some serious dosh for the site.

Mr Magee, 57, helped pioneer a tabloid approach to technology publishing when he co-founded IT news service the Register in 1994. But a split with fellow founder John Lettice led to his departure from that website in 2001.
Mr Magee subsequently launched the Inquirer, which prides itself on "news, reviews, facts and friction".
The website, which claims a readership of around 2 million visitors each month, focuses on the harder end of the technology industry, monitoring companies like Microsoft, Intel and Google.
"This deal is a great fit," said Mr Magee, who would not divulge any financial details involved in the deal. "But we've been profitable every year since we launched."

 

[neliz]

the bid did not materiales yet, 28.5 euro per share by investment consortium "het Nederlandse Alpinvest, Blackstone, Carlyle, Hellman & Friedman, Kohlberg Kravis Roberts (KKR), Permira en Thomas H. Lee"

Besides, VNU has a binding agreement with publisher IMS Health that, should VNU be taken over, it has to pay a 45 million euro fine to IMS Health.

 

[Fodder]

Seems an odd deal to strike, given that as soon as they piss off Magee he'll go and out-Inquirer the Inquirer, just as he out-Registered the Register.