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- 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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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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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
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
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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)
- CBS Buys CNET is currently a stub, a brief collection of the best links for this story. The page will be updated as we find more information.
- Help Mahalo complete this search! Let us know if you've found additional quality links about CBS Buys CNET on Google, Del.icio.us, Digg or elsewhere, and we can expand this result.
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