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Article: CBS to Buy CNET Networks.
- Article from:
- Entertainment Close-up
- Article date:
- May 19, 2008
CopyrightCOPYRIGHT 2008 Close-Up Media, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ENTERTAINMENT CLOSE-UP-19 May 2008-CBS to Buy CNET Networks(C)2008 - CloseUpMedia - newsdesk@closeupmedia.com
CBS has entered into an agreement to acquire CNET Networks, it was announced by Leslie Moonves, President and Chief Executive Officer, CBS.
Under the terms of the agreement, CBS will make a cash tender offer for all issued and outstanding shares of CNET Networks for $11.50 per share, representing an equity value of approximately $1.8 billion. The acquisition will make CBS one of the 10 most visited Internet companies in the United States, with a combined 54 million unique users per month, and approximately 200 million users.
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