CBS buys CNET Networks
p2pnet news | Freedom:- Heavily vested corporate interests have snapped up another online media outlet.
CBS Corp says it’ll become a Top Ten Net company when its acquisition of CNET Networks is completed.
It’s spending $1.8 billion to buy the San Francisco-based comany and its other sites, which include CNET.com, ZDNet, GameSpot.com, TV.com, mp3.com, Search.com and TechRepublic.
The deal, “will add a tremendous platform to extend our complementary entertainment, news, sports, music and information content to a whole new global audience,” a statement has CBS president and CEO Leslie Moonves saying.
And then the bottom line >>>
Together, CBS and CNET Networks will have significant additional exposure to the fastest- growing advertising sector and can accelerate our growth through a number of new content, promotion and advertising initiatives.
The deal is, “subject to customary conditions and is expected to be completed in the third quarter of this year,” says the statement, adding the CNET Networks board, “unanimously approved the merger agreement and unanimously recommends that CNET Networks stockholders accept the tender offer and tender their shares”.
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CBS Corp – CBS to Become a Top Ten U.S. Internet Company , May 15, 2008
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May 15th, 2008 at 9:34 am
So much for using the Internet to avoid the lies and deception of the Mainstream Media.
Big Business is moving in, as we knew it would.
Microsoft is trying to buy everybody.
The MAFIAA is want to replace P2P with themselves.
ISPs want to offer their own content.
We’ll have more on this, after these words from our sponsors….
May 15th, 2008 at 1:56 pm
Cnet was bought by the Ziff Davis publishing empire almost a decade ago, so it’s been a long time since Cnet was truly independent.
May 15th, 2008 at 5:02 pm
I wonder how badly they’ll screw up all the various C/Net sites…
May 15th, 2008 at 5:10 pm
This just in: I sold myself to Time Warner.