CBS completes tender for CNET, deal to close soon
Mike Farrell of Multichannel News reports that CBS has completed its tender offer for tech news service operating CNET Networks Inc., and that the $1.8 billion deal should close within the next several days. Farrell writes, “According to CBS, as of June 25 about 117.9 million CNET shares were validly tendered and accepted for purchase […]
The Microsoft-Yahoo rumors and the business media
Jonathan Berr of Bloggingstocks.com writes about the latest rumors surrounding the off-again, on-again Microsoft-Yahoo deal and how business journalists are taking to denying rumors reported by others. Berr writes, “Earlier today, TechCrunch’s Michael Arrington reported that the talks were back on but also noted that ‘The information we have is thin, but what one source […]
Activist investor drops CNET proxy fight
Franklin Paul of Reuters reports Thursday that investor Jana Partners LLC has dropped its bid to gain control of online tech news provider CNET Networks board due to its pending acquisition by CBS. Paul writes, “Jana, which owns about 10 percent of CNET voting stock, had argued that CNET was falling behind peers like Yahoo Inc. In […]
CNET deal won't work for CBS
The New Yorker’s James Surowiecki writes in the latest issue that most mergers and acquisitions fail, and concludes that the pending acquisition of tech news company CNET Networks by CBS will be one of those. Surowiecki writes, “Unfortunately, the CBS-CNET merger fits none of the criteria for a good deal. The overlap between the two […]
How acquiring CNET will help CBS
Cynthia Littleton of Variety takes a look at how the pending acquisition of CNET will help CBS boost its online presence. Littleton writes, “San Francisco-based CNET’s brand names include the vidgame-centric GameSpot.com; the tech news and product review-driven CNET news.com, ZDNet.com and TechRepublic.com; music-fueled MP3.com; and TV.com, which boasts one of the Web’s largest and […]
Synergies available in CNET acquisition
Saul Hansell of the New York Times writes about the synergies that CBS will be able to bring to its acquisition of tech news provider CNET Networks. Hansell writes, “For one, CBS is also a company with well-known brands and sluggish growth. So CNet adds some luster to CBS, even if it would drag down […]
CBS to purchase CNET for $1.8 billion
CBS has agreed to purchase tech news Web site operater CNET Networks for $1.8 billion, according to a story from Mike Barris of The Wall Street Journal. Barris writes, “San Francisco-based CNET owns such Internet entertainment, news and information sites as CNET, ZDNet and GameSpot.com. The company has ‘a large international footprint, particularly in China,’ […]
CNET posts loss, revenues shy of estimates
Online technology news company CNET Networks Inc. posted a first-quarter loss and had revenues that were below analyst estimates, according to an AP story. The AP story stated, “For the quarter ended March 31, CNet posted a loss of $6.1 million, or 4 cents per share, compared with a loss of $9.1 million, or 6 […]
CNET expected to announce editorial deal with Yahoo
Kara Swisher of The Wall Street Journal reports that tech news company CNET is expected to announce a deal later today with Yahoo! in which it will distribute its content on the Web search engine’s sites. Swisher writes, “Under the new deal, sources at both companies said a large swath of CNET tech news and […]
BNET expanding coverage to industries
Business news web site BNET, a division of CNET Networks, launched Tuesday a new section providing news and analysis for 11 major industries. There’s a blast of original content running throughout the entire section, in the form of industry blogs, says BNET executive editor Jeff Davis. “The audience for this is managers and executives in those industries […]
