CBS Buys CNET, GameSpot for $1.8B
Media conglomerate CBS announced today that it will purchase the whole CNET web network for $1.8 billion, with the deal expected to close in the third quarter of this year.
The offerings of CNET include gaming website GameSpot, which was marred by controversy and accusations of advertising-affected coverage last year and has seen a significant staff loss since.
Other CNET sites include CNET, ZDNet, TV.com, mp3.com, CNET news.com, UrbanBaby, CHOW, Search.com, BNET, MySimon and TechRepublic.
"The core businesses of CNET Networks and CBS Interactive represent near perfect category symmetry in premium online content," CBS Interactive president Quincy Smith. "Together we will have a terrific opportunity to not only grow our established businesses, but to build new attractive verticals of content as well."
"Gerstmanngate probably made them more vulnerable to takeover. We just can't win."17 Comments
