We've been acquired: CBS buys CNET

We've been acquired: CBS buys CNET

Summary: Nothing like scanning the headlines and finding out your parent company has been acquired.CBS Corporation To Acquire CNET Networks, Inc.

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Nothing like scanning the headlines and finding out your parent company has been acquired.

CBS Corporation To Acquire CNET Networks, Inc.

The details: "Under the terms of the agreement, CBS will make a cash tender offer for all issued and outstanding shares of CNET Networks for $11.50 per share, representing an equity value of approximately $1.8 billion. The acquisition will make CBS one of the 10 most popular Internet companies in the United States, with a combined 54 million unique users per month, and approximately 200 million users worldwide."

I don't have a whole lot to say on the matter except for:

  • Wow.
  • Will my CBS Sportsline fantasy football account be comped?

You can read the statement for yourself. Back to our regularly scheduled programming.

See Silicon Alley Insider and PaidContent.org for more.

 

Topics: Enterprise Software, Banking, Browser, Software Development

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148 comments
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  • There goes all tech news...

    Woah, I was worried. I first thought Viacom still owned CBS. (aparantly they split a few years ago?) I figured that CNET under Viacom would now become a conglomeration of reality shows with no tech talk. (ala MTV, VH1, CMT...)
    phake
    • Clinton Broadcast System

      So much for the tech stuff, I suppose we will get a lot of G's pseudo science.... ;-)
      aa8vs
      • Clinton

        You had to go there. You felt an overwhelming need to show your cynicism. What does either Clinton have to do with Viacom/CBS? Does this make you feel smart and witty? How old are you?
        majoritywhip
      • I thought it was "See B.S."!

        Maybe CNET, which I think is a fine outfit, can be a driving force to IMPROVE CBS, which in my opinion is not especially fair and balanced.
        kurtpochert
    • That makes sense now

      I was wondering why the Charmed series started saying CBS instead of Viacom. Never cared enough to look into myself, but thanks for the info.
      aka_tripleB9
      • Gee, you just NOW realized Viacom=CBS?

        That deal was cut many, many years ago. In fact, the stock maneuvering responsible for getting Paramount away from Chris-Craft and into the clutches of Emperor Palpatine, er, CBS/Viacom was verrrry interesting.

        But eventually the number of shells on the table diminished, and now we have Viacom = Paramount + Warner Brothers TV = We Network - Fox without the threateningly objective news unit attached.
        jlafitte
  • RE: We've been acquired: CBS buys CNET

    Does this include BYTE Magazine?
    geek49203_z
    • Does this include BYTE

      Unfortunately, BYTE is gone. Any attempts to rebuild it now might produce something interesting, but it wouldn't be the same.
      You can still enjoy some of Jerry Pournelle's writings at: http://www.chaosmanorreviews.com/
      alpyne2
      • Hmmm... paging Mr. Murdoch....

        If BYTE were to be resuscitated, it's have to offer something not already on the computer mag market.

        How about the Fox formula? Would News Corp be amenable to propping BYTE up in order to give Jerry Pournelle and people who write and think like him a place to shine?

        The problem, I think, is that there isn't enough money in the deal to attract Rupert Murdoch - you'd have to make BYTE a little more contentious, like WIRED, but without their particular political slant.

        And there's the question of whether or not enough people could get behind a premise like that to sell some serious ads... it'd take some experimentation and patience while the right formula gelled.

        But PC Computing had Penn Jillette on their back page for quite a while, and he, I think, would be BS-free enough to write for a resurrected BYTE.

        It might also be interesting to give hardware hackers back a magazine where they could hang out. Plenty of hits on sites like "Instructables" where some not-shabby building goes on - things like 2-axis laser cutters cobbled together from old flat scanners.
        jlafitte
        • While you're at it...

          See if you can get them to bring back Spy.
          timd1
  • I hope nothing here changes

    Like you folks just exactly as you are both personally (the few I've met) and here on line.
    hatster
    • Same here...

      it would seem that CBS couldn't possibly have the brains to add anything to the quality of content here at ZDnet or any of the other sites.

      I doubt their Junior execs have any expertise in this area.
      JCitizen
    • not to worry, I think

      I don't think you have much to worry about. CBS' previous attempts to stake out Internet media territory have been lame, at best. This time they have done the right thing and spent real $$ to acquire real content and talent. I think they're smart enough to realize that, if it ain't broke, they shouldn't break it.
      GDF
  • RE: We've been acquired: CBS buys CNET

    Well nothing to do now but sit back and see what happens :-(
    lipl1
  • RE: We've been acquired: CBS buys CNET

    I don't view this as good news.
    marketmaven
    • Agreement!!!!

      [b]Amen, brother, amen!!![/b]

      Will all computer/tech reports become 30 second (or less) sound bytes? Will [b]CNET[/b] now become as 'un-biased' as the TV news????

      What does broadcast TV have to do with tech reports????
      BobH2
      • Amen-to the third power! ......(NT)

        nt
        JCitizen
  • Monolith

    Gentlemen,

    We are well on the way to the complete ownership of all the businesses in the world by one single monolithic company.

    You think it can't happen? Come talk to me in ten years or so and meanwhile count the companies which have been gobbled up.

    Right now there are still a few players vieing for dominance; soon they will all fall into line. Just wait and see.

    Personally I think the world's governments should enact laws to stop all such mergers and buyouts in order to foster healthy competition. On the other hand, they should also stop bailing out companies under difficulty, even permitting only one chapter 11 protection per twenty years.

    bart.
    bart001fr
    • Wishful thinking

      All too often you will find that very large corporations exert great influence over various government agencies.
      Obsidian the Dharkstone
    • One World Business Plan

      Aaaahhh!!! Then i truly will be Wally World, huh?

      (Pardon me while I regurgitate...)
      button561