CNET warns of third-quarter losses

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Disappointing third-quarter returns are to be expected, CNET: The Computer Network said of its preliminary third quarter results.

Its net loss for the third quarter will be higher than expected, in the range of $6.2 million to $6.4 million. Total revenue for the third quarter is expected to fall between $8.4 million to $8.7 million.

CNET attributed the results to higher than expected development costs for its site, a service set to launch later this year, and lower than anticipated ad revenue.

In related news, CNET named Gregory J. Osberg, associate publisher and VP-advertising at Newsweek, president-sales and marketing beginning October 20. In this newly created role, Mr. Osberg will be based in New York and oversee sales and marketing for CNET and CNET's online service, Snap! Online.

Copyright October 1997, Crain Communications Inc.

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