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We've been acquired: CBS buys CNET

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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Written by Larry Dignan on

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.

 

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