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Why CBS Bought CNET, And Not The Other Way Around
Posted on May 15, 2008
1999: CNET is a $12 billion companyJanuary 2000: CNET Aquires MySimon for $700 millionOctober 2000: CNET Acquires Ziff Davis (ZDNet) for $1.6 billion (after the March 2000 stock crash)July 2004: CNET Acquires Webshots for $70 millionOctober 2007: CNET Sells Webshots for $40 millionMay 2008: CBS Acquires CNET For $1.8 billionCNET announced its sale to CBS, a $16.5 billion company, today for $1.8 billion. In late 1999, though, CNET was a $12 billion company. They subsequently acquired MySimon for $700 million and ZDNet for $1.6 billion, and it s been all downhill for CNET s market cap since...
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