CBS (CBS) To Buy CNET (CNET): Odd News
May 15, 2008 by Douglas A. McIntyreIn a move that makes little sense, a TV network, CBS (CBS) will buy a tech website business, Cnet (CNET).
The price was $11.50. Cnet has been under pressure by activist shareholders to sell the company or restructure units.
According to CBS "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."
It is, however, a TV company buying a online tech business. Nice match
Douglas A. McIntrye
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