CBS takes over CNet Networks for $1.8bn
Friday 16 May 2008
CBS, the US television and radio giant, is buying CNet Networks, the pioneering internet company best known for its technology industry news and reviews.
The $1.8bn takeover expands CBS's online presence at a time when traditional broadcasters are looking for profitable ways to distribute content on the internet. CNet also owns a number of entertainment sites including ZDNet, GameSpot.com and mp3.com.
Over the past few months, the company has been under fire from dissident shareholders concerned about its sliding stock price, so the takeover – pitched at a 45 per cent premium to the prevailing share price – averts a showdown at the company’s forthcoming annual meeting.
- 1 Snoop Dogg and Jared Leto buy a stake in Reddit as A-list invests $50m
- 2 Prince held a Facebook Q&A and this is the only question he answered
- 3 Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
- 4 Now we know whose fault it is if you end up being murdered in Thailand
- 5 35,000 walrus gather ashore on north-west Alaska beach 'for a rest'
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
The Osborne Ultimatum: Chancellor’s benefits freeze bombshell will affect ten million households
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Should gay sex be illegal? 16% of Britons think so
Mark Reckless becomes second Tory MP to defect to Ukip in a month
Benefits 'smart cards' plan revealed by Iain Duncan Smith to stop claimants spending welfare money on alcohol
- < Previous
- Next >
iJobs Money & Business
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...
£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...
Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...