BeaconEquity.com announces the publication of ‘CNET Networks Inc. (CNET) Shares Rose 44 Percent on CBS' Buyout Plan for $1.8 Billion’
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In the article the author covers CNET Networks Inc. (CNET) Shares Rose 44 Percent on CBS' Buyout Plan for $1.8 Billion:
“Internet information providers are at the forefront of industrial progress and technological advancement. Serving an essential function in nearly every business, information services technology organizes and mobilizes operational structures of corporate and industrial entities to efficiently meet their specific objectives. About 4,000 companies comprise the U.S. Internet services industry, and combined annual revenue has reached $30 billion.
CNET Networks Inc., an interactive media company, builds and operates branded media properties in the technology, entertainment, business and food areas through its online information services facilities. The company has operations in the United States, Asia, and Europe.
Recently, CNET shares rose $3.46, or 44 percent, to $11.41 following news that media giant CBS Corp. plans on a $1.8 billion, or $11.50 a share, acquisition of CNET. This planned acquisition is a major step to boost CBS' Web footprint and recover from a recent slowdown in its core television and radio business by staking a high-profile bet that such a move will provide the company with an online platform it can build on.”
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