Tuesday, July 1, 2008

CBS Completes CNET Networks Buy

CBS Corporation said Monday that it has completed its acquisition of San Francisco-based CNET Networks, and has merged its operations into a new, expanded CBS Interactive division. CBS said the division will cover five verticals: Technology, Entertainment, Sports, News, and Business, and will be headed by Quincy Smith. Smith has been in charge of CBS Interactive since November of 2006. CNET's Neil Ashe will be President of the division. CBS first announced its buy of CNET in May, in a deal worth $1.8B in cash.