Michael Arrington submits: Why CBS bought CNET, and not the other way around:
1999: CNET is a $12 billion company January 2000: CNET Acquires MySimon for $700 million
October 2000: CNET Acquires Ziff Davis (ZDNet) for $1.6 billion (after the March 2000 stock crash) July 2004: CNET Acquires Webshots for $70 million
October 2007: CNET Sells Webshots for $40 million May 2008: CBS Acquires CNET For $1.8 billion
CNET (CNET) announced its sale to CBS (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 then. Complete Story » ...
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