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CBS Acquires CNET Networks for $1.8 Billion

Posted by timothy on from the aggregation-to-the-nth-degree dept.

An anonymous reader writes "According to an announcement made today by Neil Ashe, CEO of CNET Networks, CBS has acquired CNET Networks. "Today, CNET Networks announced that it has been acquired by US media company CBS, in a deal valued at $1.8bn. The agreement represents an important strategic step for both companies and should be completed by the third quarter of 2008." So guess we'll be seeing The Late Show with Dan Ackerman, Molly Wood in Hollywood and CSISpot." If you'd like to read about it someplace other than CNet, Ian Lamont contributes a link to coverage at The Standard. It seems reasonable to ask how much longer they'll let news.com remain an IT-centric site.

8 of 100 comments (clear)

  1. New name? by gEvil+(beta) · · Score: 5, Funny

    And the new company is....CnetBS?

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    This guy's the limit!
    1. Re:New name? by Quiet_Desperation · · Score: 3, Funny

      CnetBS? I think they decided to cut out the unnecessary letterage and just call it BS.
    2. Re:New name? by himself · · Score: 2, Funny

      abolitiontheory wrote, "For me, Cnet was the Amazon of review websites."

      Well, for me, CNet was the Matlock of review websites: all the action was pretty slow-moving, there were ads everywhere, and they never tried to scare you with something you hadn't seen before a hundred times. Coincidentally, CBS is the Matlock of television networks, so I think this is going to work out juuuuust fine.

  2. Amazing. by Steauengeglase · · Score: 4, Funny

    I didn't realize that CNET had $1.8 Billion in office furniture. That is what they are buying it for, right?

  3. CBS's getting away from the nursing home crowd? by elrous0 · · Score: 4, Funny
    Maybe CBS is trying to get hip with the youngsters. This is a network that has been know for the last 20 years as the ancient relic network. They've actually had several "60 Minutes" hosts die in the middle of news segments recently without anyone even noticing. Poor Andy Rooney has been dead for several years, and they still cut to his rotting corpse at the end of each show.

    They really NEED some modernization over there. Granted they will have to explain the concept of the "internet" to many of their staffers, but hey if they can learn to use a telegraph, they can learn the internet too. And maybe someone on a CNET forum can tell them about Andy.

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    SJW: Someone who has run out of real oppression, and has to fake it.
  4. Why should I care? by Quiet_Desperation · · Score: 3, Funny

    Yay, I guess... or maybe boo? Meh? Whatever.

  5. Re:other Second Rate Site Acquired By Big Media by Rude+Turnip · · Score: 2, Funny

    I'm almost thinking the business plan of many of these internet-based companies is to simply de-fund Old Media with these acquisitions at outrageous values and use the money to start profitable ventures to bury the codgers once and for all.

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    Bill Clinton: Pimp we can believe in. - The Shirt!!!
  6. Address of the future news.com by jettoblack · · Score: 3, Funny

    Assuming CBS wants news.com for their own news portal site, the current CNet computer & tech news portal will be moved to a new, easy-to-remember address: com.news.com.com