Newspapers – Nerds and ‘Faux’ Internet Moguls are wrong again

So News Corp is going to pay $60 for Dow Jones – a 50 percent plus premium to the closing price yesterday.

Just a few weeks ago, two ‘A (?)’ list bloggers Scoble and Calacanis were blogging how dead Newspapers were, what is turning out to be the bottom in the stocks. As usual, when the noise in Techmeme and the nerd blogosphere, gets too loud, it pays to fade (do the opposite).

Too much Silicon Valley inbreeding at a time when Silicon Valley means less and less in the Digital World. Great time to read these guys and fade their delusions of grandeur. Old Media continues not to be dead.