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Technology Stocks : TheStreet.com, Inc. (TSCM)
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To: Jack Hartmann who wrote (1090)1/9/2001 8:37:21 PM
From: Teddy  Read Replies (1) of 1822
 
More TheStreetDotCon friends say "Bye bye, you loser."

WASHINGTON, Jan 8 (Reuters) - New York Times Co.
took a "very small loss" when it recently sold more than one
million common shares of financial news provider TheStreet.com
Inc. , a New York Times spokeswoman said on Monday.
The media giant sold 1.425 million shares on Jan. 4, the
same day that it made a filing with the Securities and Exchange
Commission announcing its intention to do so.
The sale was for around $3.2 million, which amounted to a
"very small loss" for the Times, spokeswoman Catherine Mathis
said without elaborating. "We made the investment in
TheStreet.com in February of 1999."
"In November of 2000 we discontinued our joint newsroom
with TheStreet.com and therefore there was no longer a
strategic interest" in the company.
She said the Times still holds about 125,000 shares, which
were valued at $312,500 based on TheStreet's closing stock
price of $2-1/2 on Nasdaq.
The company's shares have fallen dramatically from the
52-week high of $20-4/16. Once a dot-com darling, TheStreet has
cut jobs and pulled the plug on its British operation.
New York Times shares dropped $1-1/8 to close at $41-1/4 on
the New York Stock Exchange. Their 52-week high is $48-8/16.

Rtr 16:11 01-08-01

Copyright 2001, Reuters News Service
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