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CBS Now Owns Cnet, GameSpot

sjohnson
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Posted May 15, 2008 - By Stephen Johnson

CBS, the people who brought you Murder, She Wrote and other entertainment products, announced this morning that they have purchased CNET Networks, home of GameSpot.com, TV.com, mp3.com and other web workhorses.

CBS will make a offer for all issued and outstanding shares of CNET Networks for $11.50 per share, representing ($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.

CBS now owns: CNET, ZDNet, GameSpot.com, TV.com, mp3.com, CNET news.com, UrbanBaby, CHOW, Search.com, BNET, MySimon and TechRepublic.

"There are very few opportunities to acquire a profitable, growing, well-managed Internet company like CNET Networks," said Les Moonves in a statement. "CBS stands for premium content and unparalleled reach, and CNET Networks will add a tremendous platform to extend our complementary entertainment, news, sports, music and information content to a whole new global audience."

Tags: Videogames
CBS Now Owns Cnet, GameSpot
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