May 16, 2008

CBS to take over CNET

One of the top internet companies CBS is looking to take over the CNet group of news, entertainment and information sites. It has been announce that the offered is said to be worth around $1.8 billion, the move would make CBS one of the Top Ten internet companies in the world.

Shareholders in CNet would be getting $11.50 per share should the deal go ahead, the price is around forty five per cent higher than they closed at on Wednesday.

Should the deal go through, the CBS Company would be getting around 54 million unique users every month and around 200 million users throughout the world? CNET Networks include: CNET, ZDNet, GameSpot.com, TV.com, CNET News, Urban Baby, BNET, CHOW and Search.com.

Source [Center Works]