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| CBS to Buy CNet Networks |
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5.15.2008
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CBS is going to buy CNet Networks.
Associated Press reported CBS agreed to buy the online technology news and entertainment company for about $1.75 billion. The deal is seen as helping CBS expanding access to the Internet ad market.
CNet's Web sites include News.com, TV.com, Mp3.com, MySimon and GameSpot. CBS' own sites include CBS.com, CBSSports.com and CBSNews.com.
The acquisition is expected to close in the third quarter; the company said it would make CBS one of the 10 most popular U.S. Internet companies with 54 million unique visitors a month and approximately 200 million users worldwide, AP quoted it as saying.
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