CBS closes CNET Networks acquisition

CBS announced Monday it completed its $1.8 billion acquisition of CNET Networks, publisher of many Web sites including CNET News.com, 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 use tend to use technology for large corporations.

[hunter_jc]

Congras on the cash in

[citizencontact]

I have been wondering about how www.news.com would finally be used. Recently it changed back to redirecting to news.cnet.com, I assumed as CBS would use news.com for its main news site. Just a guess.

[rexworld]

Sad to see the independent CNET disappear. But hopefully under the new management it will manage to find its niche and thrive again.

[irondog1970]

I love tv.com, and I hope that CBS will be smart enough to leave it be as it is.

I have been a CNET fan for a very long time. And I hope CBS doesn't do anything to mess up my long standing like for the service.

[Pete Bardo]

Wonderful. Now we can get network-censored news via email without even asking for it! So much for this independent news source. Long live capitalism. Who needs unbiased information anyway?

[username724168]

I see this acquisition in a different light...

With the production and broadcasting capabilities of CBS now behind CNET, I predict we may see a new cable network in a few years time that will be a computer & tech destination for many.

Call it a rebirth of the old ZDTV or Tech TV (before Comcast screwed it over).

[techie2479]

Well... there goes the neighborhood.

[kannuc]

Well, there goes the neighborhood

[crewfan69]

Tech TV is Dead! Long Live Tech TV!

[TOKiBiz]

According to Compete.com, these three CNET destinations receive approximately 18 million monthly visitors. Trailing twelve month revenues for CNET is $408.24 Million. Entering these simple calculations (before costs) into the Bizak Calculator we get an EPV of $1.89 and a business valuation of $1.632 Billion. CNET was purchased for a 45% premium to its stock price but only 10% more than my revenue valuation.

Compare that to LinkedIn?s $1 Billion Valuation (Bizak Estimate = $399,999,984), Facebook?s $15 Billion Valuation (Bizak Estimate = $1,373,999,976), and YouTube?s $1.65 Billion acquisition (Bizak Estimate = $360 Million).

[cipals15]

That was a good acquisition since CBS needs more presense in the online community. CBS interactive will be much more alive than ever before because of the new team members of the interactive media group. Hope all sites of Cnet will be renewed or modified to the needs of the people.

Thanks
Charles
http://www.resourcesandmoney.blogspot.com