CBS buys CNet Networks
CBS purchased CNet Networks Inc today for $1.8 billon. You can add this to the list of large purchases by big businesses out there. It seems many companies are making ’strategic acquisitions’ of online services or businesses in order to boost their overall revenue. News Corp bought Myspace for $580 million a few years back and then Google bought YouTube for $1.65 billion and then DoubleClick for $3.1 billion (just to name a few). Those three purchases, I believe, were great decisions on behalf of the, now, parent companies. But why CNet, CBS? They’ve been around for over a decade! The three aforementioned companies were youngins when they were bought out and were doing quite well at the time. Don’t get me wrong - I enjoy reading news on CNET. I just don’t understand how they can be worth $1.8 billion.
