Mainstream Media Still Mystified By Blogs

by: Barry Ritholtz

Congrats to Seeking Alpha on their Yahoo! deal. I was getting dressed this morning when the head of Yahoo Finance was being interviewed by Joe Kernan on CNBC about their deal to carry Seeking Alpha on the Yahoo site.

It was apparent from the questioning that there is not a whole lot of understanding about blogs and what they do from the mainstream media.

Yahoo! in general, and Yahoo Finance in particular, have been enormous content aggregators. Seeking Alpha very effectively organizes, assembles and filters many different financial bloggers. It was a natural fit -- just like Yahoo! was with Marketwatch and It's what they do.

The combination makes sense, as its a relatively simple formula: "Seeking Alpha + Blog Content Aggregation = Yahoo! Finance content." And I agree with Paul Kedrosky, who notes that this is "free advertising (i.e., traffic) for bloggers."

I don't want to rag on Joe Kernan -- he is a self-admitted technophobe. But the most telling aspect of this entire discussion is the general head scratching that has met the rise of the blogsphere from most of the MSM. It is in a word quite fascinating.

Congratulations to David.