Blodget’s Business Insider Gets New VC BackerWith its new round of financing, the web mini-empire will now have more to spend than it’s been running on for the past three years put together.
Ad Agencies Better Figure Out the Internet Right QuickMEDIA
• Nike abandons its longtime ad agency Wieden + Kennedy to search for a more digital-savvy firm; Madison Avenue fears its own Internet ignorance. [WSJ]
• Has Tribune Co. finally settled on Sam Zell as a buyer? [WSJ]
• Sharing a Daytime Emmy with another winner? The National Academy of TV Arts & Sciences is charging $350 for a second statuette. [Variety via Mediabistro]
• Life magazine is dead for the third time. Time Inc. announced today that it will discontinue the Life Sunday newspaper supplement on April 20. [Time Inc.]
company town
Blood Money: Blodget vs. CramerFINANCIAL
• Stock picker Henry Blodget threw a party for his new advice book, The Wall Street Self-Defense Manual, then challenged rival stock picker Jim Cramer to an on-air debate. [DealBreaker]
• Vornado finally cried uncle in its battle with the Blackstone Group to buy the nation’s largest office landlord. [DealBook/NYT]
• Heads are rolling at hedge fund D.B. Zwirn & Co., which was busted in October for misallocating expenses. [NYP]