Blog Post

Updated: CBS Buying WallStrip; Innertube a Failure; Distributed Player Shipping Now

So said two reports, and we have confirmed it through a high-level source…financial video blog WallStrip is in the process of being acquired by CBS, in an effort to develop, among other things, WallStrip host Lindsay Campbell as a host of its online shows, in some senses similar to what Amanda Congdon is doing in part for Also, WallStrip itself could be developed, hopefully into something where CBS has a financial news play (that’s my guess), after it sold its stake in MarketWatch to Dow Jones. The pricing quoted in the posts may not be accurate.

Last year venture capitalist Fred Wilson invested about $0.5 million in the blog. The video blog started last year, and quickly gained a good following because of the deadpan humor of the host. Updated: This is strange: Fred is denying he invested $500K in the site (which was widely reported early this year and Fred didn’t deny it then), and says that he invested a small amount personally, but not anywhere near 500K amount. He also said he’s a small angel investor in the site, and will not participate in any sale negotiations, if it happens. Update 2: Wallstrip founder Howard Lindzon has in the past confirmed a $600K investment from a group of angels including Fred as part of it.

Meanwhile, we covered CBS’s new distribution strategy in detail last month..WSJ has a long rehash of sorts of it, ahead of the upfronts, where the network is acknowledging that its first attempt at hosting shows on the web, within a video player called Innertube, was largely a failure. Or as Quincy Smith, the president of CBS Interactive, said, Innertube’s URL should be “” Now it is going the super distribution route, and besides the announced deals, is also in the process of lining up agreements Facebook and online radio/social net to allow users to post CBS video clips to users’ profiles, the Journal says, citing sources. Also, the distribution player is ready, according to our sources, and shoudl start deploying anytime on the other sites.