Slate Sale

Things you don’t really want to hear from your company’s executives on the day of a new acquisition:

Ann McDaniel, a Post Co. vice president, said: “Our goal is not to in any way change Slate. We think it’s important that it keep its personality. Over time, we hope to find a business model that will make money. You’re not suddenly going to see a different kind of Slate.”

Hope is not a business model. Then again, maybe the market believes that model is out there:

Following the news of the acquisition, Washington Post stock today rose and closed up more than $26, about a 2 percent increase. Microsoft was nearly unchanged, up about 13 cents.

via Instapundit