New to Shacknews? Signup for a Free Account

Already have an account?

Video Game Release Dates 2024Elden Ring strategy guideShacknews Direct: Introducing Bubbletron!Destiny 2 Complete Strategy Guide
Video Game Release Dates 2024
Elden Ring strategy guide
Shacknews Direct: Introducing Bubbletron!
Destiny 2 Complete Strategy Guide

ViacomCBS sells CNET Media Group, including GameSpot & Giant Bomb

GameSpot, Giant Bomb, and Metacritic are among the sites who will soon be under the ownership of Red Ventures.
Ozzie Mejia
Ozzie Mejia
3

This week is starting with a major shakeup in the gaming media world. ViacomCBS made news by selling off CNET Media Group to digital marketing company Red Ventures. While some might not be familiar with the name CNET Media Group, they will likely recognize the websites under its umbrella, which includes GameSpot and Giant Bomb, as well as reviews aggregator Metacritic.

Giant Bomb will be among the sites under new ownership

According to GamesIndustry.biz, ViacomCBS is expected to sell the CNET Media Group assets for $500 million. The sale is set to close in Q4 2020. CBS first purchased the CNET Media Group assets back in 2008 for $1.8 billion.

"Over the last 25 years, CNET Media Group has built a dynamic portfolio of brands with well-earned authority on such topics as consumer tech and gaming that play an increasingly important role in people’s lives," Red Ventures CEO and co-founder Ric Elias during the announcement (via Variety). "Red Ventures is eager to invest in CNET Media Group’s growth with more personalized consumer experiences that will reinvigorate CNET Media Group's brands and unlock unprecedented opportunity for all."

Red Ventures appears to be heading into the deal with optimism that the CNET properties can help the company grow its presence in the world of technology and gaming. There's no word on whether this deal will result in any layoffs, but a handful of CNET Media Group senior executives, including Executive Vice President/General Manager Mark Larkin, are already being shifted to Red Ventures as part of the deal.

We'll be sure to keep an eye on this story as it develops. If the statement from Giant Bomb's Jeff Gerstmann is any indication, things may be looking up for the CNET teams going forward.

Senior Editor
Senior Editor

Ozzie has been playing video games since picking up his first NES controller at age 5. He has been into games ever since, only briefly stepping away during his college years. But he was pulled back in after spending years in QA circles for both THQ and Activision, mostly spending time helping to push forward the Guitar Hero series at its peak. Ozzie has become a big fan of platformers, puzzle games, shooters, and RPGs, just to name a few genres, but he’s also a huge sucker for anything with a good, compelling narrative behind it. Because what are video games if you can't enjoy a good story with a fresh Cherry Coke?

Filed Under
From The Chatty
Refresh Go To Thread
Hello, Meet Lola