CBS Buys CNET, GameSpot for $1.8B

by Chris Faylor, May 15, 2008 9:09am PDT

Media conglomerate CBS announced today that it will purchase the whole CNET web network for $1.8 billion, with the deal expected to close in the third quarter of this year.

The offerings of CNET include gaming website GameSpot, which was marred by controversy and accusations of advertising-affected coverage last year and has seen a significant staff loss since.

Other CNET sites include CNET, ZDNet, TV.com, mp3.com, CNET news.com, UrbanBaby, CHOW, Search.com, BNET, MySimon and TechRepublic.

"The core businesses of CNET Networks and CBS Interactive represent near perfect category symmetry in premium online content," CBS Interactive president Quincy Smith. "Together we will have a terrific opportunity to not only grow our established businesses, but to build new attractive verticals of content as well."

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Comments

9 Threads | 17 Comments

#17

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By: dubiousbrick x Show Full Post

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Gerstmanngate probably made them more vulnerable to takeover. We just can't win.

May 15, 2008 8:40pm PDT

Gerstmanngate probably made them more vulnerable to takeover. We just can't win. : dubiousbrick

#3

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By: edgewise x Show Full Post

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$1.8 billion? is it worth that much?

May 15, 2008 9:22am PDT

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$1.8 billion? is it worth that much? : edgewise
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- apparently : gyokuro
- Worth is defined as: # an indefinite quantity of something having a specified value; "10 dollars worth o... : theargent

#7

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By: syn0r x Show Full Post

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i hate to say it, but they're perfect for each other, neither has any respect for journalism, just dollar-dollar bills y'all.

May 15, 2008 9:46am PDT

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i hate to say it, but they're perfect for each other, neither has any respect for journalism, just dollar... : syn0r
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#13

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By: ortucis x Show Full Post

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Pretty much explains their +8 ratings for all AAA titles when way better titles from Indie studios are given random (but lower than 7) ratings even though being far superior in gameplay compared to the AAA titles. Well, at least they haven't removed the 'player reviews', which most of the time are pretty stupid or look 'fake'.

May 15, 2008 1:29pm PDT

Pretty much explains their +8 ratings for all AAA titles when way better titles from Indie studios are gi... : ortucis

#10

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By: Mercador x Show Full Post

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That's a lot of money for some websites...

May 15, 2008 10:54am PDT

That's a lot of money for some websites... : Mercador

#5

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By: MR 9000 x Show Full Post

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www.urbanbaby.com ? heh, what the hell.

May 15, 2008 9:30am PDT

www.urbanbaby.com ? heh, what the hell. : MR 9000

#4

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By: tomservo x Show Full Post

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holy crap

May 15, 2008 9:24am PDT

holy crap : tomservo

#2

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By: deathofrats x Show Full Post

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I guess their whoring of reviews paid off! Fuck honor, long live 'get it any means possible!'

May 15, 2008 9:22am PDT

I guess their whoring of reviews paid off! Fuck honor, long live 'get it any means possible!' : deathofrats

#1

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By: .ka`boom.zZz. x Show Full Post

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wow.

May 15, 2008 9:18am PDT

wow. : .ka`boom.zZz.

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