Satellite TV News

CBS Broadcasting Inc. (CBS), the largest radio and television networks in the United States has struck a deal to buy CNET Networks for $1.8 billion in cash. This acquisition would include Web properties CNET, ZDNet, gaming site GameSpot, TV.com, music destination MP3.com, UrbanBaby and CNET news.com. CBS said it would combine those assets with its existing Internet properties, which would make the company one of the top 10 U.S. Web firms with 54 million unique users per month and approximately 200 million users worldwide.

CNET, the largest remaining independent content properties has reported revenue of $405 million in 2007. CNET will join other CBS Broadcasting businesses that include CBSSports.com, MaxPreps, CBS.com, CBSNews.com, MobLogic.tv, Last.fm and Wallstrip. CBS president and CEO Leslie Moonves said in a statement said “CNET Networks will add a tremendous platform to extend our complementary entertainment, news, sports, music and information content to a whole new global audience.

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Tags: $1.8 billion in cash, cbs, CNET, CNET Networks, CNET news.com, CNET Website, GameSpot, MP3.com, TV.com, UrbanBaby, ZDNet