Companies
CBS to buy CNET for $1.75bln
By Henry Tyler
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Posted 15 May 2008 @ 10:49 pm GMT
CBS has said it will by buying entertainment website CNET in a deal with around $1.75 billion (£900 million). The television company said that by buying CNET it hoped to increase its online presence.
Xstrata still in Vale talksThe offer for CNET values the company at 45 per cent more than its closing price on Wednesday and is equivalent to $11.50 per share.
CBS said the deal would make it, "one of the 10 most popular Internet companies in the United States".
The deal still needs to be confirmed by regulators and the shareholders of CNET.
This article is copyrighted by the International Business Times.
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