CBS to acquire CNET Networks

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New York—CBS Corp. announced plans to acquire CNET Networks in a deal valued at about $1.8 billion.

“There are very few opportunities to acquire a profitable, growing, well-managed Internet company like CNET Networks,” said Leslie Moonves, president-CEO of CBS, in a statement. “CBS stands for premium content and unparalleled reach, and CNET Networks will add a tremendous platform to extend our complementary entertainment, news, sports, music and information content to a whole new global audience.”

Under the terms of the acquisition, CNET’s Web sites will be combined with CBS online properties, including,, and

CNET Networks’ sites include,,, and

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