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 Home > Web Development News [ Submit News
CBS to Acquire C|NET Networks for $1.8 Billion
5/15/2008, by no1_vern
 
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CBS will be offering to buy C|NET Networks Inc for $11.50 per share.

Cnet Networks, founded in 1992, owns many sites including Cnet, ZDNet, Cnet news.com GameSpot, TV.com, UrbanBaby, Chow, Search.com and MySimon. CBS, based in New York, will combine Cnet's sites with its own, which include CBS.com, CBSSports.com and CBS Radio upon the deal's closing, which is expected in the third quarter.

CBS CEO Les Moonves said in a conference call with analysts that Cnet offers his company a platform to boost existing interactive businesses as well as launch new ones. He said it will also increase online advertising and international opportunities, particularly in China.

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More Info: SFGate.com (San Francisco Chronicle)


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dunbar
PCLinuxOS MiniMe 2008

Registered: 1/2001
Posts: 3570

Google is your next manual. Registered Linux user 260423.

Seems a good match.... I rarely watch CBS, I rarely use C|Net.

I have to wonder how some media providers can survive. This acquisition is totally moot to me because I prefer the independent, unabsorbed little guy.

I try to avoid the website changes that ultimately devolve after mergers like this: everything becomes bloated Flash content so it can look EXACTLY like the TV that I am avoiding when I choose to surf (meaning I certainly WON'T be going to C|Net or CBS any time soon), I'll have to view interstitial advertisements before I can read the headlined articles, EXACTLY like the TV that I am avoiding when I surf (meaning I certainly WON'T be going to C|Net or CBS any time soon).

...yawn... Yet another merger to "make the internet into TV on a different screen".

Rating: 1/5 

dunbar is offline 5-19-2008 10:28am
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