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Intel buys more of CNET

Published on .

Intel Corp. said it acquired an additional 1.5% of CNET, a purchase valued at $5.3 million. Intel already owns 4% of CNET. The new acquisition gives the chipmaker a 6% stake in the company. CNET, a public company, said the investment will be used for strategic purposes. CNET has hinted that it plans to announce a major new project this quarter, but there's no word on whether it will involve Intel.

Copyright June 1997, Crain Communications Inc.

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