Media News - Friday, May 16, 2008
CBS to buy CNET for USD 1.8bn
CBS is to acquire digital media content company CNET Networks in a cash deal worth USD 1.8bn (EUR 1.1m). The US broadcaster said the CNET acquisition would transform it into one of the 10 most popular internet companies in America with 54 million monthly unique users. Globally, CNET will boost CBS web traffic to 200 million monthly unique users. San Francisco-based CNET, founded in 1992, owns a range of online entertainment, news and information websites including CNET, ZDNet, GameSpot.com, TV.com, mp3.com and Silicon.com. The acquisition is expected to be completed in the third quarter of this year. (The Guardian)
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