CBS buys CNET for $1.8bn


CBS is buying CNET Networks for $1.8bn (£0.91bn), writes Netimperative. The deal will propel CBS into the top 10 list of US websites with 54m unique monthly users and roughly global 200m users. CNET owns a stable of websites including ZDNet, and CBS is actively trying to grow its share of the online advertising market and expects the newly combined unit to reach revenues of $1bn (£508m) by 2010 or 2011.
Netimperative:, 16/05/2008

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