CBS buys CNET Networks

28th May 2008

The CBS Corporation announced its buying CNET Networks approximately for 1.8 billion dollars ($11.5 per share).
Currently, CNET owns such publications as CNET, ZDNet, GameSpot.com, TV.com, mp3.com, CNET News.com, UrbanBaby, CHOW, Search.com, BNET, MySimon and TechRepublic. The combined audience of CNET is over 200 million people worldwide.
In its turn, CBS controls such resources as CBS.com, CBSSports.com, CBSCollegeSports.com, MaxPreps.com, CBSNews.com, last.fm, Wallstrip, MobLogic, as well as television and radio stations of CBS.
The amalgamation with CNET will allow CBS to become one of the largest media-conglomerates in the U.S. and worldwide.
The bargain is going to be completed in the third quarter of this year, provided that it is approved by its governing bodies.

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