It is one of the wonders of America, that business celebrities like junk-bond salesman Michael Milken can be disgraced and then redeemed, often within the span of a decade. Tarnished former media mogul and social climber, Bob Pittman , has secured the first big payday of his new career as an internet investor: his Daily Candy , the email newsletter for women who buy handbags, has sold to cable giant Comcast for $125m, according to Silicon Alley Insider . That's more than had been rumored, and way more than Pittman in 2003 paid for his stake: $3.5m. Bob Pittman's claims to have founded MTV were overstated, but he was closely associated with the cable music channel's gigantic success in the 1980s . It was said of his wife Sandy, who later attempted to conquer Everest, that she gave a new meaning to the term "social climber." And Pittman himself was equally ambitious on the Manhattan circuit, though he scaled the social and business heights with a good deal of charm and grace. The one-eyed mogul, now 54 years old, came tumbling down after he took over management of revenue-inflating AOL during the bubble. The online access service cashed in on the funds being invested in late 1990s dotcoms, much of which was spent on advertising partnerships which gave the startup brands a place on AOL pages. The Dulles-based online service was never going to survive unscathed a downturn and the erosion of the dial-up market, and Pittman's reputation would ...
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It is one of the wonders of America, that business celebrities like junk-bond salesman Michael Milken can be disgraced and then redeemed, often within the span of a decade. Tarnished former media mogul and social climber, Bob Pittman , has secured the first big payday of his new career as an internet investor: his Daily Candy , the email newsletter for women who buy handbags, has sold to cable giant Comcast for $125m, according to Silicon Alley Insider . That's more than had been rumored, and way more than Pittman in 2003 paid for his stake: $3.5m. Bob Pittman's claims to have founded MTV were overstated, but he was closely associated with the cable music channel's gigantic success in the 1980s . It was said of his wife Sandy, who later attempted to conquer Everest, that she gave a new meaning to the term "social climber." And Pittman himself was equally ambitious on the Manhattan circuit, though he scaled the social and business heights with a good deal of charm and grace. The one-eyed mogul, now 54 years old, came tumbling down after he took over management of revenue-inflating AOL during the bubble. The online access service cashed in on the funds being invested in late 1990s dotcoms, much of which was spent on advertising partnerships which gave the startup brands a place on AOL pages. The Dulles-based online service was never going to survive unscathed a downturn and the erosion of the dial-up market, and Pittman's reputation would ...