Is News Corp. (NWS) going to buy LinkedIn? Sure! Why not!
TechCrunchUK’s Mike Butcher ginned this one up yesterday, citing an “unconfirmed rumour” from a “reliable source.” We find that locution confusing, but whatever! It’s a blog! Type how you like!
For the record, the notion is entirely plausible: LinkedIn’s valuable, and News Corp. likes to buy valuable assets. But the more we read of Mike’s post, the less we believe this one.
Mike’s rationale: Rupert Murdoch owns a lot of newspapers, newspapers are seeing their revenue decline, and LinkedIn is seeing its revenue increase. But by that logic, Rupe should really be buying Craigslist, no? Also, Reid Hoffman says that he wants to take the company public, but not for a while, so Mike figures this is code for “I want to sell to a large public company.” Also, LinkedIn CEO Reid Hoffman is on a press tour in the UK this week, which means he could talk to News Corp. execs…in the UK.
Mike should know that Reid Hoffman’s press tour continues in New York the week of December 3, so Reid will have a chance to meet his new owners in their New York offices, as well.