CBS has agreed to acquire CNET Networks in a deal valued at $1.8 billion, the companies said Thursday. Based in San Francisco, CNET Networks-owned sites include CNET, ZDNet, GameSpot, TV.com, MP3.com, CNET News.com, UrbanBaby, CHOW, Search.com, BNET, MySimon, and TechRepublic.
The deal was approved unanimously by the CNET board and is expected to close in Q3. The purchase price comes to $11.50 per share, representing a 44 percent premium over Wednesday’s closing price of $7.95.
The acquisition will make CBS one of the 10 most popular Internet companies in the United States, with a combined 54 million unique users per month, and about 200 million users worldwide, the companies said.
