CBS Buys CNet for $1.8 Billion

By Geoff Duncan May 15, 2008

Looking to expand its online presence—and the amount of Internet ad space it can sell—media giant CBS has announced it will acquire online news and information service CNet for $1.8 billion in case, or $11.50 per share, which represents a substantial premium for the company. Once approved, the acquisition would catapult CBS into the upper echelon of online properties, since CNet boasts over 2300 million users around the world and over 50 million unique visitors a month. The deal also lets CNet sidestep a confrontation with Jana Partners LLC, one of CNet’s largest investors, who has been running a proxy battle to shake up the company in the wake of stock price declines.

"There are very few opportunities to acquire a profitable, growing, well-managed Internet company like CNet Networks," said CBS president and CEO Les Moonves, in a statement. "CBS stands for premium content and unparalleled reach, and CNet Networks will add a tremendous platform to extend our complementary entertainment, news, sports, music and information content to a whole new global audience."

CBS says it plans to integrate CNet into its own collection of online enterprises, including CBS-labeled Web sites as well as music service last.fm, which the company acquired a year ago for $280 million. CNet brings a number of online sites to the acquisition, including MP3.com, search.com, ZDNet, GameSport.com, and TV.com.

CBS expects the deal to conclude in the third quarter of 2008.

Editors' Recommendations

Former Digital Trends Contributor

Geoff Duncan writes, programs, edits, plays music, and delights in making software misbehave. He's probably the only member…

Smart Home

Roborock S8 MaxV Ultra vs. Ecovacs Deebot X2 Combo: Which premium robot vacuum is best?

The Roborock S8 MaxV Ultra placed in its dock.

Roborock and Ecovacs are two of the biggest names in the world of robot vacuums. The companies have been producing some of the best robot vacuum and mop combos for years, and that trend has continued into 2024 with the Roborock S8 MaxV Ultra and Ecovacs Deebot X2 Combo. Both are ultra-premium devices that clock in at over $1,000, and we awarded both of them impressive scores in our reviews. In short, it's hard to go wrong with either robot vacuum.

However, there are some key differences between the Roborock S8 MaxV Ultra and the Ecovacs Deebot X2 Combo. From suction power and mopping skills to pricing and additional features, here's a comprehensive look at the two robot vacuums to help you decide which is best for your home.
Pricing and availability

Smart Home

Samsung Spring Sale: Get up to $915 off smart ranges today

A Samsung smart range with the Smart Oven camera.

Samsung's Spring Black Friday sale has slashed the prices of all kinds of home appliances, including gas and electric ranges. There are discounts available for Samsung's smart ranges too, which will allow you to enjoy savings of up to $915. Feel free to check out all the ranges that are cheaper than usual in the ongoing sale, but if you want to focus on getting a smart range for your kitchen, read on to learn all about them and how much you'll have to pay.

What to buy in Samsung's Spring Black Friday sale for smart ranges
Samsung's smart ranges are equipped with the Smart Oven Camera, which will allow you to check on the food that you're cooking through a livestream on your phone. You can even make time-lapse videos and share them on social media. You'll enjoy this feature on the Samsung Bespoke 6.3. cu. ft. smart slide-in electric range, which is from $2,536 for a $737 discount, and the Samsung Bespoke 6.0. cu. ft. smart slide-in gas range, which is from $2,659 for savings of $760. Both smart ranges have illuminated precision knobs that light up to let you know that the home appliance is on, and they work with the Samsung SmartThings app for pre-heating the oven, planning meals, downloading cooking modes, and much more.

Smart Home

How to reset the Nanoleaf Skylight

The Nanoleaf Skylight lighting up a room various shades of purple.

The Nanoleaf Skylight is a unique piece of hardware. Unlike most Nanoleaf products that are quick to install or easy to move and replace, the Skylight is designed as a permanent fixture in your home. Instead of simply plugging it into an electrical outlet, you'll need to hardwire it onto your ceiling – and once it's in place, you'll want it to stay there for years.

However, like all electronics, it's possible for your Nanoleaf Skylight to start acting up. And since there's no easy way to get the entire unit down from your ceiling, you might be wondering how you can quickly solve the problem. Thankfully, Nanoleaf designed a simple way for you to reset the Nanoleaf Skylight without the need to disassemble the entire setup.