Red Ventures, the digital media and marketing juggernaut, has approached strategic buyers about offloading tech news and reviews site CNET, reports Sara Fischer of Axios.
Fischer reports, “Red Ventures acquired CNET, along with a few smaller websites, from ViacomCBS, now Paramount Global, in 2020 for $500 million. It’s hoping to get at least half of that for CNET alone.
“Red Ventures has been quietly approaching strategic buyers, mostly other large media holding firms, for several months to gauge their interest in CNET, but talks began to ramp up before the holidays, sources told Axios.
“Red Ventures hired CNET’s former president Mark Larkin to return to the site as president in November. Larkin left CNET in 2021, after having spent roughly two decades there, including 12 years under its previous owners at CBS.
“The process, for now, is still informal, as the company looks to boost earnings before a possible sale. CNET is profitable, sources said.”
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