In the second major Internet acquisition of the day, CBS Corp. agreed to buy online technology news and entertainment company CNet Networks Inc. for about $1.75 billion or $11.50 per share.
The bid is a 45 percent premium above CNet’s closing price of $7.95 on Wednesday.
CNET’s sites include News.com, TV.com, Mp3.com, MySimon.com and GameSpot.cm
The acquisition, would make CBS one of the 10 most popular Internet companies in the U.S., with 54 million unique visitors a month and approximately 200 million uses worldwide, including it’s own online properties, including CBS.com, CBSSports.com and CBSNews.com.
The transaction is subject to approval by CNet shareholders and regulators.
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5 responses so far ↓
1 Ed // May 15, 2008 at 11:41 am
Headline should read: “CBS Acquires Online Network CNET & and Super Premium Domain Portfolio”
2 admin // May 15, 2008 at 12:07 pm
Ed
There you go
3 Ed // May 15, 2008 at 12:31 pm
I’m looking forward to seeing the CBS annual report upon acquisition. One of you should contact CBS’s investment bank and offer them your domain valuation expertise?
4 Greg Nelson // May 15, 2008 at 3:02 pm
anyone know the entire domain holdings…I used to know more when I worked at Gateway and it is impressive. In addition to those already mentioned…
download.com
com.com
shopper.com
search.com
help.com
chow.com
bnet.com is their business network
cnet.com obviously
others???
5 Greg Nelson // May 16, 2008 at 4:50 pm
Conceptualist did a cool image display of the brands. Thanks Sahar.
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