MSE Discussion: MoneySavingExpert.com to join the MoneySupermarket.com group

terra_ferma

purple.sarah wrote: »

I was certainly shocked when I heard the news. I'm not going to suddenly leave a site that has made such a positive difference to my life but I am concerned about it's future. Regardless of Martin Lewis' intentions, it's clear simply from the comments on here that the deal with MoneySupermarket will call MSE's credibility into question. Martin Lewis has said:

"This will free me up to do more campaigning work. People shouldn't be worried that I will go quiet. If anything, they should be worried that this is going to enable me to have an even louder voice."

But will people listen? I fear the days of him being touted as an independent commentator on financial issues are over.

his hands are tied now, as an employee of MS (as stated on their press release quoted by a poster on this or the other similar thread going right now), how can they use him as much as they do now as a commentator?

What ennoyes me is not that he cashed in, that he sold to MS, but only and exclusively that he is trying to pull the wool over our (us the forum users, us who click the affiliate links that make him, now MS, money...) eyes.
In the same was he was claiming that he was using skimlinks to cover ongoing costs and legal fees....( £15m?), now he is trying to tell us he will still be independent and in charge of this site. While MS candidly tell us a different story on their press release (aligned interests, him as an employee, getting more direct traffic from MSE...).
We trusted him.

Highlights

• MoneySavingExpert business to be acquired for a total consideration of up to £87 million
  • £35 million upfront cash and approximately 22.1 million MoneySupermarket.com shares
  • deferred consideration of up to £27 million subject, in part to the future performance of MoneySavingExpert against non financial metrics and, in part, to MoneySupermarket.com’s discretion
• Acquisition to be funded out of existing cash resources and from a new £20 million bank facility

Benefits of the Acquisition

• Value proposition:
  • Attractive acquisition multiple
  • Expected to be earnings enhancing in the first full financial year of ownership
  • Corporation tax relief expected to be available on virtually all of the consideration payable
• Combination supports and enhances MoneySupermarket.com’s strategy through:
  • Enhancing MoneySupermarket.com’s brand and user content
  • Growing MoneySupermarket.com’s direct-to-site revenues and improving MoneySupermarket.com’s customer experience
  • Utilising MoneySupermarket.com’s skills to optimise MoneySavingExpert’s website and user experience

On completion, Martin Lewis will become an employee of the MoneySupermarket.com group and his role will be editor-in-chief of MoneySavingExpert. As editor-in-chief he will lead the editorial team of MoneySavingExpert. MoneySupermarket intends to preserve the editorial independence – free of commercial considerations - of MoneySavingExpert. In order to ensure this MoneySupermarket and MoneySavingExpert have agreed an editorial code.

http://corporate.moneysupermarket.com/mony/news/releases/2012/2012-06-01/?version=1

Penny-Pincher!!

melbell wrote: »

I see you have ignored all the negativity here. As long as you have your money right?

Maybe he's just risen above it;)

WarriorPrincess

I've loved this site for over 2.5 years - benefitted repeatedly in all sorts of ways & hope I've contributed some too. I lived on Grabbit for a couple of years, but found the MSE community could also answer the weirdest questions ... and even help me get my house tidied. It often used to feel anarchic, but also hilarious and a really supportive community. More recently all those things have seemed to be in decline. Moderation and 'organisation' are much more in evidence, humour and the community are still here - but get moved interestingly often for appearing in 'inappropriate' places.The changes were so obvious I'd realised a while ago that something was going on. And while I still visit regularly, I no longer live on MSE.

We don't have to stay - if MSE doesn't do what it used to then we can walk. I'll be checking out a couple of other sites posters on this thread have mentioned, & I'll be looking more closely at HUKD too. I feel disappointed at what's happening, but if things change for us as forum users then I'm sure the cutting edge of money-saving will pop up elsewhere ... and I'll see you there!

mynameistallulah

Penny-Pincher!! wrote: »

Maybe he's just risen above it;)

And chosen to ignore all the valid queries and concerns? That is not "rising above it", it is arrogance.

DelBoyPhil

mynameistallulah wrote: »

And chosen to ignore all the valid queries and concerns? That is not "rising above it", it is arrogance.

Totally. The post he made was another blah blah blah and means nothing. People are not stupid. :money: we should have another image <--- with ML sticking his finger up as us!

People do remember that 90% of the stuff he blabs on about comes from the members of this forum, (By that I mean about the deals) Without the members he was nothing.. Now hes something cos hes got 87 million and now we are nothing! Mark my words!! ML is yesterday

I can see it now.. Him on the BBC or ITV banging on about how to save money or to switch gas supplers now (yes via MS) lol and hes got 87m in the bank!! its a joke.. People will laugh at him..

The thing that really gets my goat is that he goings on ALL the majoy channels and tells people to switch and they all run to MSE and hes had a hidden deal so that people go via MS and MSE gets money from it. But then again surely going via a cashback site people would have got more money but that was never told to them, Npower offered £100 cashback once.. martin told everyone to use a compare site. wow now we know why now.

marleyboy

:money: we should have another image <--- with ML sticking his finger up as us!

I did try to create one using photoshop, but now when I see his image I just couldn't do it, not since that smile turned itself into a leering smirk.............Even now I can see him with his thumb in the air whilst he laughs at us.

terra_ferma

DelBoyPhil wrote: »

hes had a hidden deal so that people go via MS and MSE gets money from it. But then again surely going via a cashback site people would have got more money but that was never told to them, Npower offered £100 cashback once.. martin told everyone to use a compare site. wow now we know why now.

do you have references to back this up (links etc)?
I'm not doubting, but I always genuinely thought that the site would give the best possible deal, now I hear that was not true and I'm very disappointed. I'd like to look into it a bit more because I've always trusted this site, the deal with skimlinks was made public (to cover costs...), so I thought it was all above board, I get good deals, the site gets a bit of commission, win-win I thought.
Maybe I was wrong, too naive?

DelBoyPhil

terra_ferma wrote: »

do you have references to back this up (links etc)?
I'm not doubting, but I always genuinely thought that the site would give the best possible deal, now I hear that was not true and I'm very disappointed. I'd like to look into it a bit more because I've always trusted this site, the deal with skimlinks was made public (to cover costs...), so I thought it was all above board, I get good deals, the site gets a bit of commission, win-win I thought.
Maybe I was wrong, too naive?

Its on a lot of posts about the 59% of money from MSE comes from MS.

StaffsSW

terra_ferma wrote: »

do you have references to back this up (links etc)?
I'm not doubting, but I always genuinely thought that the site would give the best possible deal, now I hear that was not true and I'm very disappointed. I'd like to look into it a bit more because I've always trusted this site, the deal with skimlinks was made public (to cover costs...), so I thought it was all above board, I get good deals, the site gets a bit of commission, win-win I thought.
Maybe I was wrong, too naive?

I think it stems from this issue where ML was on GMTV and getting people to visit his site to find the cashback sites, rather than go direct to them. He therefore got a commission from the cashback sites, effectively by underhand advertising.

http://news.bbc.co.uk/1/hi/entertainment/8580143.stm

Ofcom agreed that it was a breach.

Nednats

I only visit and use this site because it is independent.
It's sad to think that the independence has been lost.
It is not that hard to start up a new forum. If some of us group together we could start something. Anyone interested PM me.