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ZDNet: BayStar: SCO Needs New Management

Apr 22, 2004, 14:00 (13 Talkback[s])
(Other stories by Stephen Shankland)

"After nearly a week of silence, BayStar Capital said Wednesday its move to retrieve a $20 million investment in SCO Group is part of an effort to induce major changes at the Linux litigator--including new senior management and a withdrawal from the Unix product business.

"BayStar, whose funding in October was paired with another $30 million from the Royal Bank of Canada, said it hasn't been happy with SCO's response to requests it has made in recent months. BayStar has invested in about 400 companies over the years, but only with SCO has it resorted to a request to have its shares redeemed..."

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[Editor's Note: The New York Times (free registration required) has more on this story, including some sharp comments from BayStar on Darl McBride's "too frequent and too grand" public statements. For those not interested in registration, The Ledger (Lakeland, FL) has the same NYT piece. -BKP]

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