Feeds

CBS saves CNet from activist investors

Billion dollar buyout

Top three mobile application threats

CBS is buying CNet Networks - the web publisher behind ZDNet, gamespot.com, tv.com, mp3.com, news.com and techrepublic. These sites will now be combined with CBS's websites.

CBS is paying $1.8bn for CNet - a 44 per cent premium on its share price. The combined properties will have 54 million unique users per month in the US and 200 million worldwide.

Quincy Smith, president of CBS Interactive, said: "The core businesses of CNET Networks and CBS Interactive represent near perfect category symmetry in premium online content". He said the deal would allow the two companies to "build new verticals" as well as grow their existing businesses.

The deal is good news for CNet which has been under pressure from shareholders. In January two institutional investors were pushing to get extra people on the board of directors to reverse CNet's falling share price which has been on the slide since January 2006.

CBS has also been criticised for "not getting the net" - its early stategy of driving viewers to one site - CBS.com - were abandoned for a more shotgun approach.

CBS did a round of deals with various web publishers including AOL, Bebo, Comcast, Joost and CNet in 2007 to get its shows distributed more widely online. CBS also bought London based music site last.fm for $280m in 2007.

CNet's board has unanimously approved the offer and recomends CNet shareholders do the same. It is expected to close in the third quarter.

Press release here. ®

Application security programs and practises

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.