Hedge Funds
There could be a roll-up of two struggling digital media operations in the near future — if one investor in TheStreet.com and Salon Media has his way. Now that the activist investor, Spear Point, has finally closed the deal to seize control of the board of foundering Salon Media, it is resetting its sites on Jim Cramer’s TheStreet. “We do think there is room for consolidation, especially in the smaller end of the market,” said Ron Bienvenu, managing partner of New Orleans-based Spear Point, which has less than $100 million under management. “TheStreet, I think, lacks compelling vision,” said Bienvenu....