Blog Post

BOA: News Corp. Would Be Interested In Facebook At Right Price; Hint: $2 Billion Not It

I’m getting weary of the $2 billion figure now being flung around without any sense of reality. BW made the mistake of raising it and now people just can’t let go of the idea. It came up today during FIM president Ross Levinsohn’s presentation at the Bank of America conference. Sounds like he told people to stop using crack — of course, not in those exact words. Here’s what he did say according to Reuters: “We’re certainly not paying $2 billion for Facebook. … If the price was right I’d be interested in it. It’s a great site and I know the guys there well. But I don’t know if they’re up for sale.”

He is intrigued by the low-cost Web 2.0 start-ups with “no business model;” primarily those with user participation feature sets or technologies.

The other, more real $2 billion figure came up, too — the size of the News Corp. internet acquisition wallet. Roughly $1.3 billion already has been spent. Safe to assume that wallet would expand for the right acquisition — ie one Chairman Rupert Murdoch really wants and can sell to shareholders.

Rafat: A related story on Facebook meme…which we wrote about first debunking the BW Online story…The Deal also backs my sources that Facebook is not seeking a buyer at this moment.