CBS to buy CNET Networks...

[Zim Hosein]

CBS has agreed to acquire CNET Networks in a deal valued at $1.8 billion, the companies said Thursday.

The purchase price comes to $11.50 per share, representing a 44 percent premium over Wednesday's closing price of $7.95.

The acquisition will make CBS one of the 10 most popular Internet companies in the United States, with a combined 54 million unique users per month, and about 200 million users worldwide, the companies said.

The deal is expected to close in the third quarter. CNET's board has unanimously approved the deal, the company said.

Based in San Francisco, CNET Networks-owned sites include CNET, ZDNet, GameSpot, TV.com, MP3.com, CNET News.com, UrbanBaby, CHOW, Search.com, BNET, MySimon, and TechRepublic.

CNET Networks, News.com's publisher, recently announced a partnership with Yahoo to provide technology news and reviews to the search company. The companies also agreed to allow Yahoo to sell display ads on CNET properties and for CNET to sell ads alongside the content it provides on Yahoo sites.

CNET has been involved in a fight over control of its board with Jana Partners.

CBS to buy CNET Networks

I didn't know that some of those sites still existed!

 

[destrekor]

As I said in the console forum thread about it in regards to Gamespot... Redstone/National Amusements is here to informally control the world. Good thing I tend to work for them in the summer... I might just be on the good side of the empire!
Redstone (through National Amusements) has controlling stake in so much shit, it's unreal.

+

 

[George P Burdell]

I wasn't aware CNET owned so many websites.

 

[ViRGE]

Well that sucks, CBS is going to kill CNet.

 

[Zee]

Originally posted by: ViRGE
Well that sucks, CBS is going to kill CNet.

nah but you are going to see more ads

 

[Zim Hosein]

Originally posted by: Zee

Originally posted by: ViRGE
Well that sucks, CBS is going to kill CNet.

nah but you are going to see more ads

How many more ad spots could CBS add Zee?

 

[0roo0roo]

eh whatever, none of those sites is top grade, they all are fall back sites for getting info because it tends to be rather shallow/lazy level journalism/reviews. i don't see how crap like cnet can get much worse.

 

[foghorn67]

I am baffled on why cnet is popular. The editor in charge of camera reviews can kiss my ass.