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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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2 comments for “CBS to buy CNET Networks”
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…and surely this means that you guys will be hiring more people?
…I can try, can’t I?
[...] CBS to buy CNET Networks wilson g tang Posted by root 1 hour 54 minutes ago (http://www.wilsontang.com) Cbs to buy cnet networks by rhapsodyartist may 15 2008 post a comment one comment for cbs to buy cnet networks powered by wordpress Discuss | Bury | News | CBS to buy CNET Networks wilson g tang [...]