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CBS to buy CNET Networks

So it looks like Sumner Redstone owns my soul now.  The deal is valued at 1.8 billion dollars, and represents a 32% premium over the closing stock price on Wednesday.  I don’t know what this means for CNET TV or Loaded, but it is certainly a good thing for CNET as a brand.  For the last few months, JANA Partners has been attempting to replace the board of directors of CNET Networks because of what it thinks is a low stock price.  Personally, it has always surprised me at how the stock price of CNET has remained low for so long.  We’re actually a profitable coming with revenues of more than 400 million dollars a year.

Don’t know how this is going to affect Loaded or The 404, but maybe it’s a good opportunity for growth in those properties.  Natali Del Conte is just excited to be working in the same company as 60 Minutes.  Keep you posted.

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