Sunday, November 29, 2015
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Amazon Unveils New Drone For Prime Air Delivery
Google Glass Evoluion Could Be A Monocle
NSA's Phone Surveillance Program Changes
Lenovo and Razer Partner to Make Gaming PCs
LG Display Makes Huge Investment in OLED Panels
Sony To Bring Remote Play Feature To PS4
MINIX NEO U1 Media Hub for Android Coming Next Week
Samsung Joins Audi’s Progressive SemiConductor Program
Active Discussions
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
How to burn a backup copy of The Frozen Throne
Help make DVDInfoPro better with dvdinfomantis!!!
Copied dvd's say blank in computer only
menu making
Optiarc AD-7260S review
 Home > News > General Computing > CBS Buy...
Last 7 Days News : SU MO TU WE TH FR SA All News

Saturday, May 17, 2008
CBS Buying CNET For $1.8 Billion; CBS Predicts $1 Billion Interactive Revenues By 2010

CBS will pay $11.50 a share for CNET. The all-cash deal represents a premium of 44% above the $7.95 CNET closed at yesterday.

If you take the JANA team's argument at face value, this deal won't satisfy them -- they wanted significant structural and management changes, and from the looks of the release Les Moonves and Quincy Smith are simpling swallowing the existing operation whole. On the other hand, CNET hasn't traded above $10 for years, so the JANA team will be getting a very nice return over a relatively short time, which ought to ease their pain. Update: Based on a couple conversations we've had this morning, we don't expect the JANA group to say anything about this other than "Thank You, Mr. Moonves!"

Does the deal make sense for CBS? There's almost no synergy, operationally or brand-wise (see chart, with typo in headline, at bottom of release), between the two businesses. Despite Quincy's frenzied deal-making and hand-shaking over the last year or so, CBS doesn't have much of a digital platform to date.

But that's as good an argument for making the deal as any -- rather than trying to build your way on to the Web, why not buy it? And if the JANA guys are right, CNET isn't a dying asset -- it's just one that needs to be revitalized

During the conference call announcing the deal , Les takes pains to praise CNET Neil Ashe as a great exec, and lets his CFO Fred Reynolds lay out the broad financial case for the deal. The gist: They can combine ad platforms and get some other savings to lower costs, and can boost revenue by exposing CNET advertisers to CBS and vice versa. They predict that the combined CBS Interactive/CNET unit will hit $1B in revenue by 2010 (News Corp.'s Fox Interactive will be about $100M shy of that this summer) and will be able to grow top-line in mid to high-teens, which comparable profit growth.

Aliph intoduces new Jawbone Bluetooth Headset with NoiseAssassin Technology        All News        RIM to Launch Touch-screen BlackBerry in Q3
EBay seller pleaded guilty to software piracy charges     General Computing News      Investor to Lead Fight Against Yahoo Board

Get RSS feed Easy Print E-Mail this Message

Related News
G-Technology Adds Four New Products to Evolution Series
Google Introduces the News Lab
Super Talent Portable Storage Device Features SSD RAID And USB 3.0
G-Technology Goes Rugged With Five New Portable External Storage Solutions
G-Technology Releases New Evolution Models, 'Studio' Line Of External Hard Drives
Super Talent Launches The RAIDDrive II Plus PCIe SSDs
G-Technology Expands Its Thunderbolt External Hard Drive Family
Sony Buys Semiconductor Manufacturing Facility From Renesas Electronics
PROMISE Introduces First Thunderbolt 2-Supporting Storage Solutions
SK hynix And Micron May Be Close To Licensing Deal
Stanford Engineers Build First Computer Using Carbon Nanotubes
Super Talent Releases NGFF SSDs For Mobile Computing

Most Popular News
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .