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Late last year, the buzz was that Metacafe -- a venture-backed video site -- was about to be sold for a $200+ million.
As is often the case, the rumor proved to be without much basis in fact.
But, according to a recent story in Reuters, Metacafe has hired a new CEO, Erick Hachneburg. He certainly has a nice resume; that is, his former gig was the senior VP at Electronic Arts (NASDAQ:ERTS).
True, YouTube is still the dominant player. Yet, Metacafe is no slouch. And, with a veteran CEO, the site should get more traction.
But, a big payday is probably going to have to wait awhile.
Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.
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