Whether you are one or not, it is a fact that the so called Liberal point of view is dying. Thats why Obama is in trouble. Thats why he is moving to the center, where most of America is. I dont know how Huffington talked Aol into spending a rediculous amount for a point of view that is certain to chase away more of AOLs viewership but the only way to save this so called Content Company is NOT to put Huffington in Charge of Content but to hire someone with a Conservative point of view. Like the old Point Counter Point. If its only Liberal Point with Huffington, then AOL is dead.
unfortunately, liberalism (not the actual meaning of the word but defined by the popular perception of the word today, i.e. socialism) will never die as it will always be popular to have the Government steal on your behalf in order for you to get something from nothing.
"unfortunately, liberalism (not the actual meaning of the word but defined by the popular perception of the word today, i.e. socialism) will never die as it will always be popular to have the Government steal on your behalf in order for you to get something from nothing."
Alexander Fraser Tyler, Cycle Of Democracy (1770) -
"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits the public treasury with the result that a democracy always collapses over lousy fiscal policy, always followed by a dictatorship. The average of the world’s great civilizations before they decline has been 200 years. These nations have progressed in this sequence: From bondage to spiritual faith; from faith to great courage; from courage to liberty; from liberty to abundance; from abundance to selfishness; from selfishness to Complacency; from complacency to apathy; from apathy to dependency; from dependency back again to bondage."
Confirmed: Criterion Capital Partners Acquires Bebo From AOL
27 Comments Robin Wauters Jun 17, 2010 The rumors are true: hedge fund Criterion Capital Partners is indeed the buyer of Bebo. As we reported yesterday, AOL is offloading the social networking service for less than $10 million (other media are reporting a purchase price of around $2.5 million).
To remind you: AOL paid $850 million for Bebo back in 2008. Ouch indeed.
In a press release that just went out, Criterion acknowledges that it has acquired the Bebo business from AOL and that it will “assume the rights and complete operating control over the global social platform business”.
The acquisition and financing was led by CCP partner Adam Levin in partnership with business strategist Paul Abramowitz and web entrepreneur Richard Hecker.
Criterion Capital Partners will take over Bebo’s global operations immediately and retain its San Francisco-based headquarters.
Exact terms of the deal are not being disclosed by either party, but AOL CEO Tim Armstrong sent a note to all employees this morning that suggests our earlier reports that the ability to offset almost the whole sum it paid for Bebo as a tax loss played a big role are correct.
A couple of paragraphs from said note (emphasis ours):
In April we communicated the fact that Bebo was among the assets we would be not be keeping as part of our main portfolio of businesses. At that time, we indicated that we hoped to finish our strategic evaluation by the end of May, which we did. Today we are announcing that we completed the sale of substantially all of the assets of Bebo, Inc. to Criterion Capital Partners, LLC.
This sale is important for Bebo’s users and for AOL. The deal will allow Bebo’s users to remain within the social platform that they know and love, while enabling a new owner to bring new possibilities and experiences to bear. Criterion Capital Partners are specialists in facilitating growth plans and turnarounds and are well placed to drive Bebo’s effort to strengthen its foothold within the highly competitive social networking arena.
For AOL, the transaction will also create a meaningful tax deduction, which should allow us to more effectively manage our tax strategy.