Old media reporting on Toys ‘R’ Us acquisition of eToys: FAIL.
I’ve been known to defend “old” media. Bloggers seem to think they can replace the old school media, but I disagree. How many blogger are on the ground in Iraq? Oh yeah, they’re just sitting behind their computers commenting on what the old media is reporting over there.
But I have to say the old media’s initial response to Toys ‘R’ Us’ acquisition of some of The Parent Company’s assets, including eToys.com, is a classic fail.
The wire services got a press release from Toys ‘R’ Us about the acquisition. The wire services and AP then summarized the press release and added some toy data before syndicating their articles. Each article I’ve read say “terms of the deal were not disclosed”.
Well, if these reporters had perhaps Googled “Toys R Us eToys”, they would have found Domain Name Wire’s article about the purchase (it was on the first page at the time). That article linked to the other article about the purchase price being $2.15M.
Or, since this was a bankruptcy purchase, they could have just looked up the bankruptcy documents. In case that’s too much work, here’s the final asset purchase agreement (pdf).
Perhaps the “terms weren’t disclosed” by Toys ‘R’ Us, but about 10 minutes of searching would have given the old media the answer.