TheStreet.com corrected two points in Dependent on Coin-Flip Cramer, Will TheStreet.com Sell? (TSCM):
...your post contains two significant errors. First, after you quote TSCM CEO Tom Clarke's statement that there is no economic tie between TSCM and Jim Cramer's "Mad Money" TV program, you erroneously summarize Mr. Clarke as essentially conceding that "there’s no financial relationship between Cramer’s media appearances and TheStreet.com".
In fact, in addition to his television program, Mr. Cramer hosts a radio program called "RealMoney with Jim Cramer." This program is syndicated nationally under an agreement between TheStreet.com and Buckley Broadcasting Corporation, and the net profits of the program are shared equally between the two parties. Radio appearances may not be television appearances, but they are certainly media appearances. See our periodic filings for details on the arrangement and the revenue we receive .
Your second error is more significant. At the end of your post, you wonder why anyone would want to acquire the company "when it’s so dependent on Jim Cramer, but there’s no contractual relationship that binds the two together?" [emphasis in original]. In fact, as anyone who follows the company would know, on August 1, 2005, Mr. Cramer signed a new employment agreement with TSCM, pursuant to which he agreed to author articles for the Company’s publications, provide on-air radio hosting services for the Company’s radio programming, and provide reasonable promotional and other services, subject to his personal and professional availability, through December 31, 2007. See our Form 8-K filed on August 5, 2005 for details.
Vice President and General Counsel
Many thanks for the correction, and apologies for the two errors.