CBS buys CNET $1.8 Billion

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    CBS has acquired San Fransisco based CNET for $.1.8 billion. CNET has numerous web properties and enormous traffic from the likes of Gamespot,TV.com, news.com and mp3.com. According to Forbes “The deal values CNET at a 44.6% premium to Wednesday’s closing price of $7.95. CBS said that the deal would catapult it into the ranks of the 10 most popular Internet companies in the United States, with around 200 million users worldwide.”

    Pre-CNET purchase numbers indicated CBS lagging in 5th at around 23 Million unique visitors as of the middle of March 2008 according to Adage.

    1. TimeWarner 123.8 M
    2. Disney 48.1 M
    3. NewsCorp 86.6 M
    4. NBC Universal 51.5 M
    5. CBS 23.6 M

    Whether the CNET purchase will truly bring CBS to the number one position time will tell. The CBS Internet acquisition rampage puts some plush holdings under its’ belt:

    CBS Audience Network
    CBS Local Station Group
    CBS Mobile
    CBS.com
    CBSGames.com
    CBSNews.com
    CBSRadio.com
    CBSSports.com
    CSTV.com
    The CW (joint venture)
    Dotspotter – Click here for previous coverage ($10 Million purchase)
    Last.fm – Click here for previous coverage ($280 Million purchase)
    MaxPreps Network
    Showtime.com
    StarTrek.com
    The Showbuzz
    Wallstrip.com Click here for previous coverage ($5 Million purchase)
    CNET.com

    *information based on Adage

    I continue to devote coverage to CBS because of the bold moves the once traditional media company continues to display on where media is consumed.

    Other coverage on the CBS – CNET purchase:

    PaidContent

    BusinessWeek

    24/7Wall St.

    Huffingtonpost


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