CBS - CBS BUYS INTERNET PUBLISHER CNET FOR $1.8 BILLION

In a move that lifts it into the forefront of Internet publishers, CBS has agreed to acquire CNET Networks for about$1.8 billion in cash -- representing a 45-percent premium over CNET's current share price. In a statement, CBS chief Les Moonves said, "There are very few opportunities to acquire a profitable, growing well-managed Internet company like CNET Networks. ...CNET Networks will add a tremendous platform to extend our complementary entertainment, news, sports, music and information content to a whole new global audience."

15/05/2008