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Reload this Page [TcMag] CBS to buy CNET Networks for $1.8 billion

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Old 05-15-08   #1 (permalink)
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Default [TcMag] CBS to buy CNET Networks for $1.8 billion
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Corporation has decided to spike the punch and announced that it will be buying CNET Networks. As agreed on, CBS will pay $11.50 in cash money per every CNET share, resulting in a deal reaching a $1.8 billion value.

"There are very few opportunities to acquire a profitable, growing, well-managed Internet company like CNET Networks," said Moonves. "CBS stands for premium content and unparalleled reach, and CNET Networks will add a tremendous platform to extend our complementary entertainment, news, sports, music and information content to a whole new global audience. Together, CBS and CNET Networks will have significant additional exposure to the fastest- growing advertising sector and can accelerate our growth through a number of new content, promotion and advertising initiatives."

Following the closing of the deal, expected for Q3 CBS will be able to brag with an enhanced web portfolio that includes CNET.com, MP3.com, Gamespot.com, TV.com and more.
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Old 05-15-08   #2 (permalink)
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WOOHOO Cnet will go downhill even faster now!

just like survivor....
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Old 05-15-08   #3 (permalink)
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Hope this doesn't affect content, I like cnets reviews.
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Old 05-15-08   #4 (permalink)
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Oh man. Goodbye Cnet. Tom & Molly please find another technology news outlet.
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Old 05-15-08   #5 (permalink)
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I'm no finance expert, but that seems like one hell of a deal. Figured CNET was worth more than 1.8bil.
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