CBS Corp (TV corporation) agreed to buy the Internet media company CNET Networks Inc. for $1.8 billion. As we all know CNET Networks Inc is pioneering online provider of technology news and product reviews and the owner of ZDNet – owner of news.com, download.com, mp3.com, tv.com etc.

CBS Corp flushing with cash pay $11.50 a share in tender offer for CNET. CBS hopes that with this move will expand its internet advertising reach in single stroke. They know that CNet Networks comes with a lot of assets, among them some of the best domains you couldn’t buy without acquiring a company.

Research analyst Sarah Rotman Epps said: “It’s a valuable buy but I am not sure it is worth $1.8 billion, I do think that CBS is overpaying.”. But “this shows that CBS is serious about expanding their business to become a true digital company,” said consultant Larry Kramer which is very true. Research analyst Sarah Rotman Epps agree with that and said. “It’s a very logical and efficient way for CBS to extend its advertising network.”

Tags | Business, Internet, Technology News