CBS News Acquiring Wallstrip, New Headache in Eeking Out Online Profits
Wallstrip – the Wall Street web video program featuring Lindsay Campbell trying to make the Nasdaq hilarious – is being snapped up by CBS News, we're told, for something in the $5 million range. An announcement is expected early this week, perhaps Monday. Part of the deal involves Campbell being the next Amanda Congdon: frontin' for CBS' web initiatives.
A moment of nostalgia: Back in November '06, Lindsay interviewed Wallstrip investor Fred Wilson, of Union Square Ventures, who, naturally, called the site "the next big thing." It certainly is, at least for Les Moonves' balance sheet.
It's probably worth noting at this juncture that Wallstrip – backed by Howard Lindzon – doesn't make any money. No ad revenue. Nada. Good luck with that!