CBS to Buy C|Net Networks
Margaret Kane writes on the C|Net News Blog:
CBS has agreed to acquire CNET Networks in a deal valued at $1.8 billion, the companies said Thursday.More here.
The purchase price comes to $11.50 per share, representing a 44 percent premium over Wednesday's closing price of $7.95.
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 about 200 million users worldwide, the companies said.
The deal is expected to close in the third quarter. CNET's board has unanimously approved the deal, the company said.
posted by Fergie @ 5/15/2008 12:35:00 PM
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