CBS decided to buy CNET
May 15th, 2008 | By Sindh Today | Category: TechnologyWorld big media network (CBS) has agreed to acquire CNET network in a deal valued at $1.8 billion. the CNET said.
The purchase price per share set at $11.50 which provides 44 precent premium over Wednesday’s closing price of $7.95.
It will help CBS to become one of the 10 most popular internet companies in the United states, with the number ranging from 50 to 55 million unique users every month.
The acquisition will make CBS one of the 10 most popular Internet companies in the United States, with a combined 54 million unique users per month, and about 200 million users worldwide, the companies said.
The deal is expected to close in the third quarter. CNET’s board has unanimously approved the deal, the company said.
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