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The Wisdom of the Market, part 452

Posted by: Jon Fine on December 09

A colleague of mine steps into the Time Warner presentation at yesterday’s Credit Suisse First Boston conference. This is a few minutes after Time Warner CEO Dick Parsons has just told the crowd Time Warner would still consider a deal for MGM—that is, the studio Metro-Goldwyn-Mayer and its massive film library: At “a reasonable price, I’d slam it in there.”

Said colleague, the latecomer, ends up standing in the back of a room next to an investor. Investor glances at his BlackBerry and dryly chuckles to a pal that MGM’s stock is already up on Parsons chatter. (And it was .)

Thing is, as Mr. BlackBerry knows, MGM-the-studio is not a standalone publicly traded company. MGM Mirage—which operates resorts and casinos—is. And it’s helpfully traded under the symbol MGM.

The Wisdom of the Crowds? Not in this case.

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The media, entertainment and marketing worlds continue to shapeshift on a near-daily basis, as new forms arise and old assumptions erode. Where is it all going? No one really knows. But on this blog BusinessWeek’s media writers Tom Lowry and Ron Grover promise to provide ample helpings of scoop, provocation, and sharp analysis as they track and annotate this constantly changing terrain.

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