AFI BLOG: Media and Technology

Red Herring
CBS on Thursday agreed to acquire pioneering Internet media company CNET Networks for $1.8 billion in cash.
“There are very few opportunities to acquire a profitable, growing, well-managed Internet company like CNET Networks,” CBS CEO Leslie Moonves said in a statement.
Shares of CNET gained $3.46, or 43.52 percent, to $11.41 by closing trading.
The deal comes [...]

[Read more →]

New Media Icon Grapples With Newer Media Rivals - The Wall Street Journal
CNET Networks Inc. has achieved many Internet companies’ dreams: more monthly users in the U.S. than Web phenomenon Facebook Inc. and about $400 million in revenue annually.
But the San Francisco company finds itself the target of hedge-fund and venture-capital investors looking to take [...]

[Read more →]