The Europeans Are Coming! The Europeans Are Coming!

On Monday, we said:

we’re guessing that if the current exchange rates hold up, they’re going make acquisition target mincemeat out of American media companies. Or American Media companies. Or both

Today, Keith Kelly said:

rumors are swirling that a European suitor is sizing up [American Media] for a buyout.

Speculation has centered on Italian Prime Minister Silvio Berlusconi or possibly German cable giant Kirsch. Pecker says it is not true, however. “No international company or American company has contacted me or my partners,” he said.

The dollar’s sagging value against the euro has raised speculation that another European invasion could be underway, similar to the one that reshaped the U.S. publishing landscape in the 1980s.

So we’re not paranoid after all.

Or maybe we are. Once you factor in David Pecker’s probability (or improbability) of truthfulness and Keith Kelly’s expected error rate, we’re not sure anything about this article is useful or meaningful.

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