Steve Rattner’s Quadrangle Group, best known for its investments in traditional media, is (belatedly?) planting a flag in Silicon Valley. It’s hired former Yahoo COO Dan Rosensweig to open an office there in September. Rosensweig got squeezed out of Yahoo in the December shakeup that elevated Sue Decker.
It will be interesting to watch what Quadrangle does with the tech and new media options it finds in California. Rattner, a former reporter who moonlights as an oped writer for The New York Times, Businessweek, and The Wall Street Jou
rnal, has been vocal about what he sees as a credit bubble fuelled by cheap debt. He’s also suggested that most media assets (in the U.S., at least) are fully valued. So does Rattner think there are Valley companies he can still buy on the cheap? Or is he expecting to take advantage of a coming downturn? New York Times Dealbook.
Steve Rattner: Today New York; tomorrow the world.¬† And boy am I glad I quit the newspaper business.