CBS is buying CNET. For $1.8 billion in cash. While that might seem like a drop in the bucket compared to some buyout offers we've seen recently, that's still a lot of cash flowing from an old media company to a new one.
CBS is no stranger to new media. The company purchased the internet radio service Last.fm last year. But according to a press release put out by CBS this morning, this acquisition will make CBS "one of the 10 most popular Internet companies in the United States."
CNET Networks owns a whole slew of internet sites, including ZDNet, GameSpot, TV.com, MP3.com, Download.com, and of course, CNET and News.com.
[via Brian Alvey]
Reader Comments (Page 1 of 1)
5-15-2008 @ 9:37AM
Todd said...
Two elderly, out of touch, divorcées fall in love with each other and get married. Awwwwww. Sweet.
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5-15-2008 @ 9:56AM
nana said...
thats a big news for this morning
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5-15-2008 @ 2:15PM
Adam said...
How much you be news.com is the new CBSNews homepage...
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5-15-2008 @ 8:00PM
tekman94 said...
NO, NOT CNET. THIS CAN'T BE HAPPENING.
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