CBS Acquiring CNET For $1.8 Billion; 44.6 Percent Premium

Iria · May 15, 2008, 09:58 PM

CBS is acquiring CNET for $1.8 billion in cash. The purchase price comes to $11.50 per share, representing a 44.6 percent premium over last night’s closing price of $7.95. This is that big acquisition we’ve been waiting for from Quincy Smith’s CBS Interactive, and from CNET’s perspective, this avoids the proxy drama with Jana— it appears that this represents a nice profit for them, but the firm, we’re told, has no comment yet, and is looking into it. The deal was approved unanimously by the CNET board and is expected to close in Q3.
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Source: PaidContent.org

Judas · May 15, 2008, 11:25 PM

holy crap

BlueMak · May 16, 2008, 01:17 AM

Oh no! what a tragedy!
What if they stop all those great hardware view reviews at cnet? You know the "it looks cool, 9/10 !!!!!!11111!!1!1111!!!"

I wonder if Gamespot will lose its independence and stop being a beacon of light and sole fighter against paid by publishers reviews.

May 15, 2008, 09:58 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	CBS Acquiring CNET For $1.8 Billion; 44.6 Percent Premium CBS is acquiring CNET for $1.8 billion in cash. The purchase price comes to $11.50 per share, representing a 44.6 percent premium over last night’s closing price of $7.95. This is that big acquisition we’ve been waiting for from Quincy Smith’s CBS Interactive, and from CNET’s perspective, this avoids the proxy drama with Jana— it appears that this represents a nice profit for them, but the firm, we’re told, has no comment yet, and is looking into it. The deal was approved unanimously by the CNET board and is expected to close in Q3. _______________ Source: PaidContent.org

May 16, 2008, 01:17 AM	#3
BlueMak HH's Asteroids' Dominator Join Date: Nov 2004 Location: Hellas->Macedonia->Thessaloniki Posts: 13,479 Rep Power: 349 System Specs	Oh no! what a tragedy! What if they stop all those great hardware view reviews at cnet? You know the "it looks cool, 9/10 !!!!!!11111!!1!1111!!!" I wonder if Gamespot will lose its independence and stop being a beacon of light and sole fighter against paid by publishers reviews. __________________ The people who are regarded as moral luminaries are those who forego ordinary pleasures themselves and find compensation in interfering with the pleasures of others(Bertrand Russell)"You go into Afghanistan, you got guys who slap women around for five years because they didn't wear a veil,You know, guys like that ain't got no manhood left anyway. So it's a hell of a lot of fun to shoot them." - Lt. Gen. James N. Mattis This is slavery, not to speak one's thought. [Euripides-The Phoenician Women (c.411-409 B.C.)] http://www.macedonia.info/FALLACIESANDFACTS.htm *Sic semper tyrannis.*