"CBS is making a major Internet and news powerplay, acquiring CNET for $11.50 per share (44% more than CNET is trading at) for a total of $1.8 Billion.
Acquiring CNET and its $406 million per year in revenue is a big and bold move by CBS, which was the original parent company of iWon Search (now an IAC company) when it launched."
Read more here.
Source: Posted on TheConceptualist by Sahar Sahid -- Reprinted with permission -- May 15, 2008