CNET agrees to buy Chinese Web site

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San Francisco—CNET Networks announced Wednesday that it has entered into a definitive agreement to acquire the assets of PCHome, a personal technology and commerce Web site with headquarters in Shanghai.

The $11 million cash deal was made in cooperation with Chinese subsidiaries and affiliates. Under the terms of the agreement, the founders of PCHome will retain a 10% minority interest.

CNET Networks said it does not expect the PCHome transaction to materially impact financials in 2005.

Last year, CNET Networks acquired ZOL and Fengniao, two leading personal technology Web sites based in Beijing.

—Sean Callahan

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