CBS buys Cnet
May 16, 2008
US broadcaster CBS has beefed up its Internet presence with the $1.8 billion purchase of Cnet Networks, the network of technology and entertainment focused websites.
CBS said the deal would make it one of the 10 most popular Internet companies in the US, with a combined 54 million unique users per month, and approximately 200 million users worldwide.
The media group is seeking to ramp up its digital activities at a time when a slowing economy and new technology are pressing the traditional TV and radio businesses that supply the majority of its revenues