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BUSINESS
June 24, 2008 | From Times Wire Services
CBS Corp., the broadcaster controlled by billionaire Sumner Redstone, acquired about 78% of CNet Networks Inc. through a tender offer after the companies agreed to a $1.8-billion takeover in May. About 119.2 million CNet shares were tendered as of Friday, CBS said. The firm will acquire CNet's remaining shares through an offer expiring at midnight Wednesday.
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ENTERTAINMENT
October 3, 2008 | Mike Boehm
The Sotheby's art auction house has repeatedly inflated prices by failing to make full disclosures when it has an ownership stake in some of the works it sells, according to a federal suit brought by Halsey Minor, founder of CNet Networks Inc. With the suit filed Wednesday in U.S. District Court in San Francisco, Minor intensified the legal volleying over an abortive auction in May. First, Sotheby's sued him in Manhattan federal court last month...
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BUSINESS
June 28, 2002 | Reuters
CNet Networks Inc., which operates a Web site offering news, shopping information and other technology items, said it would cut 10% of its work force. It also warned that its second-quarter sales would be short of forecasts. CNet, which currently has a staff of 1,900, has been hit hard by the high-tech slump and the downturn in online advertising, which is a major source of its revenue.
BUSINESS
July 1, 2008 | From Times Wire Services
CBS Corp., the U.S. broadcaster controlled by Sumner Redstone, completed its $1.8-billion acquisition of CNet Networks Inc., becoming one of the 10 largest website companies. CNet, along with existing Internet businesses, will form a new digital division led by Quincy Smith, New York-based CBS said. Chief Executive Leslie Moonves sought CNet, owner of GameSpot.com and TV.com, to add Web businesses that are growing faster than the company's television and radio networks.
BUSINESS
July 1, 2008 | From Times Wire Services
CBS Corp., the U.S. broadcaster controlled by Sumner Redstone, completed its $1.8-billion acquisition of CNet Networks Inc., becoming one of the 10 largest website companies. CNet, along with existing Internet businesses, will form a new digital division led by Quincy Smith, New York-based CBS said. Chief Executive Leslie Moonves sought CNet, owner of GameSpot.com and TV.com, to add Web businesses that are growing faster than the company's television and radio networks.
BUSINESS
February 7, 2006 | From Bloomberg News
CNet Networks Inc., publisher of Web-based technology news and reviews, said fourth-quarter profit doubled on higher holiday-season ad sales and said it sold Computer Shopper magazine, a print publication. Net income jumped to $22.9 million, or 14 cents a share, from $9.23 million, or 6 cents, a year earlier, San Francisco-based CNet said. Sales rose 20% to $107.4 million. CNet shares fell 15 cents to $13.85.
BUSINESS
May 25, 2006 | From Bloomberg News
Four companies, including Analog Devices Inc. and online publisher Cnet Networks Inc., said they had become subjects of the U.S. government's investigation into the backdating of stock-option grants. Computer chip makers Analog Devices and Power Integrations Inc. said they had received subpoenas from federal prosecutors. Cnet, the online publisher of technology news, and biopharmaceutical company Medarex Inc. said the Securities and Exchange Commission began informal probes.
ENTERTAINMENT
October 3, 2008 | Mike Boehm
The Sotheby's art auction house has repeatedly inflated prices by failing to make full disclosures when it has an ownership stake in some of the works it sells, according to a federal suit brought by Halsey Minor, founder of CNet Networks Inc. With the suit filed Wednesday in U.S. District Court in San Francisco, Minor intensified the legal volleying over an abortive auction in May. First, Sotheby's sued him in Manhattan federal court last month...
BUSINESS
August 9, 2005 | From Associated Press
Google Inc. is refusing to speak with reporters at CNet's online news site after it ran a story that used Google's chief executive to illustrate how easily the company's search engine finds personal information. Google last week told News.com, the online tech news service of CNet Networks Inc., that it would not speak to its reporters for a year, said News.com's editor.
BUSINESS
May 16, 2008 | Thomas S. Mulligan and Meg James, Times Staff Writers
In its biggest and boldest move onto the Web, agreed Thursday to buy the Internet media company CNET Networks Inc. for $1.8 billion in a deal that drew flak from critics for its high price and its daunting management challenges. Flush with cash and hoping to vastly expand its Internet advertising reach in a single stroke, CBS announced that it would pay $11.50 a share in an all-cash tender offer for CNET. That is a 45% premium over Wednesday's closing price and turns CBS into a white knight for CNET, which is embroiled in a proxy fight against a dissident shareholder group.
BUSINESS
June 24, 2008 | From Times Wire Services
CBS Corp., the broadcaster controlled by billionaire Sumner Redstone, acquired about 78% of CNet Networks Inc. through a tender offer after the companies agreed to a $1.8-billion takeover in May. About 119.2 million CNet shares were tendered as of Friday, CBS said. The firm will acquire CNet's remaining shares through an offer expiring at midnight Wednesday.
BUSINESS
May 16, 2008 | Thomas S. Mulligan and Meg James, Times Staff Writers
In its biggest and boldest move onto the Web, agreed Thursday to buy the Internet media company CNET Networks Inc. for $1.8 billion in a deal that drew flak from critics for its high price and its daunting management challenges. Flush with cash and hoping to vastly expand its Internet advertising reach in a single stroke, CBS announced that it would pay $11.50 a share in an all-cash tender offer for CNET. That is a 45% premium over Wednesday's closing price and turns CBS into a white knight for CNET, which is embroiled in a proxy fight against a dissident shareholder group.
BUSINESS
May 25, 2006 | From Bloomberg News
Four companies, including Analog Devices Inc. and online publisher Cnet Networks Inc., said they had become subjects of the U.S. government's investigation into the backdating of stock-option grants. Computer chip makers Analog Devices and Power Integrations Inc. said they had received subpoenas from federal prosecutors. Cnet, the online publisher of technology news, and biopharmaceutical company Medarex Inc. said the Securities and Exchange Commission began informal probes.
BUSINESS
February 7, 2006 | From Bloomberg News
CNet Networks Inc., publisher of Web-based technology news and reviews, said fourth-quarter profit doubled on higher holiday-season ad sales and said it sold Computer Shopper magazine, a print publication. Net income jumped to $22.9 million, or 14 cents a share, from $9.23 million, or 6 cents, a year earlier, San Francisco-based CNet said. Sales rose 20% to $107.4 million. CNet shares fell 15 cents to $13.85.
BUSINESS
August 9, 2005 | From Associated Press
Google Inc. is refusing to speak with reporters at CNet's online news site after it ran a story that used Google's chief executive to illustrate how easily the company's search engine finds personal information. Google last week told News.com, the online tech news service of CNet Networks Inc., that it would not speak to its reporters for a year, said News.com's editor.
BUSINESS
June 28, 2002 | Reuters
CNet Networks Inc., which operates a Web site offering news, shopping information and other technology items, said it would cut 10% of its work force. It also warned that its second-quarter sales would be short of forecasts. CNet, which currently has a staff of 1,900, has been hit hard by the high-tech slump and the downturn in online advertising, which is a major source of its revenue.
BUSINESS
February 7, 2001 | From Bloomberg News
HCA-The Healthcare Co., the biggest U.S. hospital chain, said fourth-quarter profit rose 25% as it raised prices for insurers, admitted more patients and held down costs. Profit from operations rose to $198 million, or 35 cents a share, from $159 million, or 28 cents, a year earlier, beating the 34-cent average estimate of analysts surveyed by First Call/Thomson Financial. Revenue rose 5.9% to $4.
BUSINESS
July 20, 2000 | JOSEPH MENN, TIMES STAFF WRITER
Online technology news provider CNet Networks on Wednesday agreed to buy its biggest competitor, Ziff-Davis Inc., and its online business, ZDNet, for about $1.6 billion in stock. The combination of the cross-town San Francisco rivals ends the 73-year independence of Ziff-Davis, whose print publications have ranged from Modern Bride to PC Magazine.
BUSINESS
February 7, 2001 | From Bloomberg News
HCA-The Healthcare Co., the biggest U.S. hospital chain, said fourth-quarter profit rose 25% as it raised prices for insurers, admitted more patients and held down costs. Profit from operations rose to $198 million, or 35 cents a share, from $159 million, or 28 cents, a year earlier, beating the 34-cent average estimate of analysts surveyed by First Call/Thomson Financial. Revenue rose 5.9% to $4.
BUSINESS
July 20, 2000 | JOSEPH MENN, TIMES STAFF WRITER
Online technology news provider CNet Networks on Wednesday agreed to buy its biggest competitor, Ziff-Davis Inc., and its online business, ZDNet, for about $1.6 billion in stock. The combination of the cross-town San Francisco rivals ends the 73-year independence of Ziff-Davis, whose print publications have ranged from Modern Bride to PC Magazine.
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