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From the Blogosphere
Pre-Open Movers 5/15: CNET (CNET) Up On CBS Buyout, Sina (SINA) Up on Results/Outlook; Salary.com (SLRY) Sinks On Results/Outlook
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<>StreetInsider.com Pre-Open Movers:
CNET Networks, Inc. (Nasdaq: CNET) 42% HIGHER; CBS Corporation (NYSE: CBS.A) (NYSE: CBS) has entered into an agreement to acquire CNET Networks. Under the terms of the agreement, CBS will make a cash tender offer for all issued and outstanding shares of CNET Networks for $11.50 per share, representing an equity value of approximately $1.8 billion. CNET closed at $7.95 yesterday.
Salary.com (Nasdaq: SLRY) 27% LOWER; reports a Q4 loss of $0.09, 1 cent lower than the analyst estimate of ($0.08). Revenues for the quarter were $9.3 million, versus the consensus...
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Should Viacom have bought CNET?
Filed under: Deals, Internet, Viacom (VIA), CBS Corp 'B' (CBS)  So the big news on Thursday was CBS' (NYSE: CBS) hefty $1.8 billion purchase of CNET (NASDAQ: CNET). Douglas McIntyre already explained why this was such a "weird deal" in an excellent article that you can read here. I'd like to expand on that thinking a bit by asking if it should have been Viacom (NYSE: VIA), as opposed to CBS, in the buying seat.
<>Remember "old Viacom"? Old Viacom was composed of CBS and "new Viacom", the latter being the Viacom of today. I know, confusing, but that's how things are when a big media conglomerate ...
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Analyst downgrades: Department store sector, SNDK and CNET
Media old fogies spend big on New Media
Filed under: CBS Corp 'B' (CBS), Comcast Cl'A' (CMCSA)  Over the past couple weeks, I've attended several conferences, such as Warrillow and Digital Hollywood. Of course, a big topic is New Media - and how it will somehow kill Old Media.
But, it seems that Old Media is still alive and well. In fact, this week we've seen some key media deals; that is, CBS' (NYSE: CBS) $1.8 billion deal for CNET Networks (NASDAQ: CNET) and Comcast's (NASDAQ: CMCSA) $175 million purchase of Plaxo. <>Funny enough, yesterday I had breakfast with a big-wig from Comcast (from the ecommerce division). While he said that...
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CBS To Buy CNET For $11.50 A Share
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CBS (CBS) this morning announced a deal to buy CNET (CNET) for $11.50 a share in cash, or $1.8 billion. <>CNET owns a variety of Internet sites, including ZDNet, GameSpot.com, TV.com, mp3.com, CNET News.com, UrbanBaby, CHOW, Search.com, BNET, MySimon and TechRepublic. CBS owns CBS.com, CBSSports.com, CBSCollegeSports.com, MaxPreps.com, CBSNews.com, last.fm, Wallstrip, MobLogic, and CBS Radio and CBS Television Stations digital media platforms. CBS says the deal will make it one of the 10 most popular Internet companies in the United States, with a combined 54 million unique users per month, an...
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