Netflix and Cablevision are taking seats at the table of the influential S&P 500, one of the standards by which we (macro) measure American progress in general and day-to-day transactional news.
To free these seats, the following companies are being asked to quietly pick up their chips and move to a less infamous table.
- Office Depot Inc
- New York Times Co
- Eastman Kodak Co
Newspapers giving way to cable distribution, no surprise given people have shown a definite preference for entertainment-news rather than traditional journalism.
And Netflix, one of my own darlings, taking the seat from an office supply chain that, I guess, can’t match Quill and Staples.
Or is Staples not long for the S&P either…