• 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.

• 1. Will make CBS one of top ten Internet companies
  2. Purchase Price: $1.8 million
  3. Complete by: Third Quarter 2008
  4. CBS CEO: Leslie Moonves
  5. CNET CEO: Neil Ashe

• 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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