Arik Hesseldahl

Recent Posts by Arik Hesseldahl

Best Buy Founder Schulze Offers to Take Retailer Private

Richard Schulze, the founder and former chairman of the struggling electronics retailer Best Buy, has offered to buy out the chain at $24 to $26 a share, according to a report by Bloomberg News. The offer would value the company at about $8.5 billion, and amounts to a premium of between 36 percent and 47 percent over Best Buy’s closing share price on Friday. Best Buy shares soared in premarket trading by more than 21 percent.


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald