CBS agrees to pay $1.8 billion for CNET Networks

SAN FRANCISCO – U.S. network CBS agreed last week to buy CNET Networks, an Internet media company, for $1.8 billion in cash. Under the agreement, CBS will pay $11.50 per share for all issued and outstanding shares of CNET Networks, which owns entertainment, news and information websites such as CNET.com, ZDNET.com, mp3.com, GameSpot.com, TV.com, UrbanBaby.com, and TechRepublic.com. A CBS media release issued on May 15 notes the acquisition will make the company 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. “There are...