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On May 15, 2008 media-giant CBS agreed to purchase the technology network CNET Networks, Inc. The merger is scheduled to be fully complete by the third quarter of 2008. CBS purchased CNET for $11.50 a share or $1.8 million. This is an increase in the stock price of $7.95 the day before. In talk of the merger, CNET stock prices increased while CBS stock prices decreased by $0.89 a share. CBS believes this will help them to provide news to a broader variety of people.
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Fast Facts
- Will make CBS one of top ten Internet companies
- Purchase Price: $1.8 million
- Complete by: Third Quarter 2008
- CBS CEO: Leslie Moonves
- CNET CEO: Neil Ashe
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Network-Owned Sites
The following website are owned by the CNET network and will be included in the acquisition:- CNET
- ZDNet
- GameSpot
- TV.com
- MP3.com
- CNET News.com
- UrbanBaby
- CHOW
- Search.com
- BNET
- MySimon
- TechRepublic
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Quotes
- "Our idea is to have our content wherever, whenever you can get it, and adding CNet just makes that happen faster,"
- Leslie Moonves, CBS CEO
- "Our idea is to have our content wherever, whenever you can get it, and adding CNet just makes that happen faster,"
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Related Mahalo Pages
CBS | CNET | ZDNet | TechRepublic | GameSpot | TV.com | MP3.com | CNET News.com | UrbanBaby | CHOW | Search.com | BNET | MySimon
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Questions and Answers About CBS Buys CNET | View All | Ask a Question
View All CBS Buys CNET Questions (3966) | Ask a QuestionDoes Procter & Gamble own the CBS message board for Guiding Light? (2 Answers)CBS Interactive, Inc. owns CBS.com and all the messageboards on it. When you log-in through your CBS.com account you agreeing to the Terms of Use of CBS Interactive which state ... read moreWhat do you think of CBS proposed new arranged marriage reality tv show? (2 Answers)Just another crazy reality TV show idea. A waste of time. read moreIs this accurate? CBS doesnt produce most of its top shows. (1 Answer)No, CSI and Two and a Half Men, their 2 top shows, are produced by them. http://tvbythenumbers.com/category/ratings/top-shows-by-network/cbs-tv-ratings read moreShould I buy a Palm Pre? (2 Answers)If you can really afford it go ahead (especially if your current phone is broken or is not a smartphone. However, with tech it may be best to let the ... read more
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CBS Buys CNET Blogs and Commentaries
- Google Blog Search: CBS Buys CNET
- CNET News Blog: CBS to buy CNET Networks (May 15, 2008)
- Valleywag: CBS buys CNET Networks for $1.8 billion (May 15, 2008)
- ZDNet: We’ve been acquired: CBS buys CNET (May 15, 2008)
- TechCrunch: CNET CEO: “This Is An Exciting Day For Us” (May 15, 2008)
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