CBS in blog buy


CBS Corporation is now the owner of the blog site Wallstrip, which dishes out stock market news, rumors and advice. No word on the price, which was believed to be in the single digit millions and not material enough for corporate to even issue a press release.

Wallstrip founder Howard Lindzon confirmed the deal on (where else?) the blog, intimating that the acquisition involved just a tiny portion of the 1.8 billion in cash that CBS has lying around. He joked that the recent runup in CBS' stock price was likely due to news of the deal leaking out. And after taking a couple of swipes at his new corporate parent for canceling "Jericho" and the whole Don Imus fiasco, Lindzon allowed as how "Cash Flow matters and CBS has plenty of it."

He's also a big fan of CBS Interactive boss Quincy Smith and says he plans to buy some shares of the new mother ship. "I like their syndication strategy and I am bullish on Quincy and the Interactive Division of course," Lindzon blogged.