Media Navel Gaze: June 3, 2013


The Week Unpeeled

Summer seemed to sizzle a bit last week despite an end-of-week slump in the markets.  (Although the Dow lost more than 200 points Friday—amid some reports of a leaked Fed report showing concerns about how QE2 easing may fare—the blue chip barometer ended May 1.86 percent higher and the S&P 2.08 percent higher.)

Quite a bit elsewhere, nonetheless:

  • Moo Shu for everyone:  China bid on Smithfield – the world’s largest hog farm and pork processor -- for approximately $4.7 billion, which if approved (and lots of leverage for US negotiators, regulators here!) would be the largest Chinese takeover of a US firm;
  • Closer to home:  Stakeholders okayed a plan for an Empire State Building IPO, expected to be $1 billion or the second largest REIT IPO ever, and no doubt a chance to light the top green;
  • US home prices soared at its fastest pace in seven years;
  • David Petraeus, former CIA chief and army general, joined KKR;
  • BuzzFeed continues to make news of its own with the debut of CNN BuzzFeed, a YouTube channel;
  • NewsCorp unveiled its new logo for its not-yet-launched publishing unit, a cursive version of its name (based on founder Rupert Murdoch’s handwriting), a decidedly non-digital look for a media group; and
  • Playing Doubles?: Peter Lattman of The New York Times DealBook fame reviewed Jimmy Connors new memoir, “The Outsider,” showing perhaps Wall Street can easily translate into sport. End of Story
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