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Market Update : 
CBS Acquires CNET for $1.8 B
Author: 123jump.com Staff
123jump.com
Last Update: 5:21 PM EDT May 15 2008



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CNET Networks, Inc agreed to be acquired by CBS at $11.50 per share or $1.8 billion. The technology and tech news publisher had regained its footing after the tech bubble in the late nineties. In the year 2007 the company had reported revenue of $406 million and earnings of $177 million. CBS locked in a competitive struggle with News Corp has been acquiring Internet properties to increase its audience reach.

 

 

 

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