What Are Hoskinson’s Reasons for Buying Coindesk’s Media Division ?
Charles Hoskinson, co-founder of blockchain network Cardano, is interested in buying DCG’s media arm, CoinDesk, despite the company’s current troubles. According to Yahoo! Finance Hoskinson expresses strong interest in buying DCG media unit as he sees need to restore journalistic integrity. The Cardano co-founder’s interest was made public after CoinDesk announced that it was exploring a possible sale. Hoskinson disclosed in a video livestream in the U.S., last week:
“My interest on the media side is more broad… I would like to figure out how to get to journalistic integrity again.”
Although Hoskinson has publicly expressed interest in buying CoinDesk, it looks like it won’t be a quick and easy affair. Hoskinson said he thought the $200 million sale price was too expensive for CoinDesk, and said the pre-order would be reviewed after the company’s books were properly reviewed. Meanwhile, on the side of CoinDesk, its management has decided to buy the investment bank Lazard Ltd as a senior financial advisor. The financial guru is tasked by DCG’s media arm in exploring ways on how to successfully sell CoinDesk, removing a burden from DCG’s CEO and founder, Barry Silbert. Hoskinson provided additional reasons to show interest in purchasing CoinDesk. One of them is that both readers and the blockchain community can benefit from incentives that will help them financially, resulting in a responsible and accurate crypto media that is decentralized. The leader of IOHK has already lambasted the mainstream media for its negative coverage of the Cardano ecosystem. With the probable acquisition of the faltering Digital Currency Group’s media division, Hoskinson hopes to restore moral ethics in crypto and blockchain sector reportage. Meanwhile, according to Hoskinson, CoinDesk lacks a metaverse component and “good video side”. He agrees that the company is trying to grow its video service, but says it’s not popular.
Source: The Pipsafe Team – What Are Hoskinson’s Reasons for Buying Coindesk’s Media Division ?
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