Reactions to story from Silicon Alley Insider
LIVE CALL: CBS Buying CNET For $1.8 Billion
http://www.alleyinsider.com/ 2008/ 5/ cbs_buying_cnet_for_1_8_billion
CBS will pay $11.50 a share for CNET. The all-cash deal represents a premium of 44% over above the $7.95 CNET closed at yesterday. Will it be enough to satisfy JANA et al? If you take the JANA team's argument at face value, this deal won't satisfy them -- they wanted significant structural and management changes, and from the looks of the release Les Moonves and Quincy Smith are simpling swallowing the existing operation whole. On the other hand, CNET hasn't traded above $10 for years, so the JANA team will be getting a very nice return over a relatively short time, which ought to ease their pain.
Reactions / posts that link to this post
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CBS Buying CNET Makes Sense?
http://rebuildingmedia.corante.com/archives/2008/05/15/cbs_b...CBS buying CNET might make sense financially and the chart they released (see bottom of post) showing the various properties makes a good case for "synergies" of adding unduplicated audience in various verticals. CBS Chief Les Moonves, in
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Weve been acquired: CBS buys CNET
http://blogs.zdnet.com/BTL/?p=8832Weve been acquired: CBS buys CNET Posted by Larry Dignan @ 4:33 am Categories: General, Web Technology Tags: CBS Broadcasting Inc., Internet, Mergers & Acquisitions, Corporate Law, Investment, Financial Services, Development Tools, Finance, Business
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CBS acquires CNET Networks
http://blogs.techrepublic.com.com/career/?p=315As Larry Dignan said in his blog this morning over on our sister site ZDNet: Nothing like scanning the headlines and finding out your parent company has been acquired. Our parent company, CNET Networks, was just acquired by CBS. I dont know the
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10 new blogs after CBS buys TechRepublic
http://blogs.techrepublic.com.com/10things/?p=354Well, by now its pretty much common knowledge that CBS has decided to buy TechRepublics parent company CNET.ÃÂ To ensure that TechRepublic remains a good fit with the rest of CBS, well be launching the following blogs as part of our New Fall Schedule:
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Speaking of getting acquired
http://blogs.techrepublic.com.com/classic-tech/?p=134Just yesterday I posited the question over whether HPs purchase of EDS was a good idea or bad idea based on HPs history of acquiring Compaq. Then coming into work this morning, I was greeted at the front desk by our trusty receptionist Mae with three
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Breaking: CNET up 40% on CBS News
http://anzman.blogspot.com/2008/05/breaking-cnet-up-40-on-cb...CBS Corp (NYSE: CBS) announced an agreement this morning to acquire CNET Networks (NASDAQ: CNET). The deal "will make CBS one of the ten most popular companies in the United States onthe Internet with a combined 54 million unique visitors per
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Will Dan Farber take over for Mike Wallace?
http://dealarchitect.typepad.com/deal_architect/2008/05/will...Will Dan Farber take over for Mike Wallace? CBS is acquiring CNET. With technology becoming so mainstream in every walk of life and Mike Wallace retiring, the timing is right for Dan Farber to step in and interview Larry, Mark, Sam... No not Zuckerberg -
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Will Dan Farber take over for Mike Wallace?
http://dealarchitect.typepad.com/deal_architect/2008/05/will...CBS is acquiring CNET. With technology becoming so mainstream in every walk of life and Mike Wallace retiring, the timing is right for Dan Farber to step in and interview Larry, Mark, Sam... No not Zuckerberg - they already had him on 60 minutes. The
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Strange Deals by CBS, Comcast: Should We Worry?
http://www.ipdemocracy.com/archives/2008/05/15/#002991I overslept this morning only to awaken to the news that CBS is buying CNET for $1.8 billion. I had to rub the sleep out of my eyes twice before I realized that I wasn't dreaming. What possible synergies could these two companies generate and why would
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CBS Buys CNet
http://www.cincomsmalltalk.com/blog/blogView?showComments=tr...I understand the idea of CBS buying CNet, but for $1.8 Billion??? CBS will pay $11.50 a share for CNET. The all-cash deal represents a premium of 44% above the $7.95 CNET closed at yesterday. As AlleyInsider notes, CNet hasn't traded above $10 in years.
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CBS: Now Broadcasting in Web 1.0
http://digitaldaily.allthingsd.com/20080515/cbs-cnet/The leadership of CNET Networks Inc. (CNET or the Company) has presided over massive value destruction, with CNETs shares declining (21)%, (52)% and (25)% in the one, two and three year periods ended March 28, 2008, respectively, compared to (1)%, 6%
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CBS+CNET=The Future of Yahoo?
http://kara.allthingsd.com/20080515/cbscnetthe-future-of-yah...So what other Web media company facing a hostile investor does CNET remind you of? Disgruntled investors, a troubled Web 1.0 company who management is recalcitrant to give up power, an obviously powerful, but underutilized set of assets. The acquisition
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BREAKING: CBS Acquiring CNET For $1.8 Billion; 44.6 Percent Premium
http://arcelay.vox.com/library/post/breaking-cbs-acquiring-c...BREAKING: CBS Acquiring CNET For $1.8 Billion; 44.6 Percent PremiumÃÂ ÃÂ CBS (NYSE: CBS) is acquiring CNET (NSDQ: CNET) for $1.8 billion in cash.ÃÂ The purchase price comes to $11.50 per share, representing a 44.6 percent premium over last night's closing
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Strange Deals by CBS, Comcast: Should We Worry?
http://www.ipdemocracy.com/archives/2008/05/15/#002991I overslept this morning only to awaken to the news that CBS is buying CNET for $1.8 billion. I had to rub the sleep out of my eyes twice before I realized that I wasn't dreaming. What possible synergies could these two companies generate and why would
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CBS To Acquire CNET For $1.8 Billion
http://www.techcrunch.com/2008/05/15/cbs-to-acquire-cnet-for...The core businesses of CNET Networks and CBS Interactive represent near perfect category symmetry in premium online content, Quincy Smith, President, CBS Interactive. And that symmetry is apparently worth about $1.8 billion, because thats what CBS just
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Here is how I start my day, how do you start yours?
http://www.loiclemeur.com/english/2008/05/here-is-how-i-s.ht...When I wake up, I generally take a coffee (and as often as possible I go running) and here is what I do generally before anything else, it takes me about an hour: -check my tweets, @replies and direct messages on Twhirl -check techmeme, read key blogs
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CBS to Acquire CNET for $1.8 Billion
http://www.boygeniusreport.com/2008/05/15/cbs-to-acquire-cne...CBS is taking aim at the young demographic as they prepare to shell out a whopping $1.8 billion in the acquisition of CNET Networks. The hefty sum amounts to $11.50 per share, a 44% premium over CNETs closing price on the day of the announcement. JANA
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CNET, Internet Bubble Memories
http://blog.datamation.com/blog/2008/05/cnet-internet-b.htmlCNET, Internet Bubble Memories "Do you still have any CNET shares?" my wife asked, eyebrows raised. No, dear, I haven't worked there in four years. So went our pillow talk this morning on the news that CBS is buying CNET Networks for $1.8
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http://laist.com/2008/05/15/tv_junkie_thurs_35.php#more
We've got (at least) 6 season finales tonight. Speaking of finales of sorts, CNET was bought by CBS for $1.8 billion. In a day where the old school dinosaurs have been shedding their digital assets, it's pretty remarkable that CNET's management pulled
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CBS and CNET: Vision, or desperation?
http://www.mathewingram.com/work/2008/05/15/cbs-and-cnet-vis...So CBS an old media giant that hasnt been doing so well lately plunks down $1.8-billion for CNET, a new media giant that hasnt been doing so well lately. Does this sound like something to get excited about? Not to me. In fact, it sounds a little like
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CBS Buys Cnet for a BazillionAND
http://howardlindzon.com/?p=3584I dont read CNet and nobody tells lowly Lindzon about CBS dealflow, so I did not see this one coming. Now that its done, put aside your snarky - they overpaid, Cnet is dead, Blogging killed Cnet comments for just a moment. Good things can happen. The
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