CBS closes US$1.8bn CNET Networks acquisition - News - Business

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This story was printed from ZDNet Australia.
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CBS closes US$1.8bn CNET Networks acquisition

By Dawn Kawamoto, CNET News.com
July 01, 2008
URL: http://www.zdnet.com.au/news/business/soa/CBS-closes-US-1-8bn-CNET-Networks-acquisition/0,139023166,339290204,00.htm

CBS announced on Monday it completed its US$1.8 billion acquisition of CNET Networks, publisher of many websites including CNET News.com, ZDNet.com.au and Builder AU, setting the stage for expanding its CBS Interactive division into five categories.

Under the acquisition, CBS Interactive will include such categories as technology, entertainment, sports, news, and business. The division will be headed up by Quincy Smith, former CBS Interactive president, who will now serve as its CEO. Neil Ashe, former CNET Networks CEO, will become president of the business unit.

CBS Interactive's technology category will include CNET.com, CNET Reviews, Download.com, and others. The entertainment category will include TV.com, GameSpot.com, Chow.com, CBS.com, TheInsider.com, Last.fm, and the CBS Audience Network, while the sports category will include CBSSports.com, CBSCollegeSports.com, and NCAA.com.

CBS Interactive will also incorporate the news category, serving as home to CNET News.com, for technology news, and CBSNews.com, which features global news and current events. The business division will operate BNET.com, as the anchor to its business-related content, as well as ZDNet and TechRepublic, which serve readers who tend to use technology for large corporations.