CBS Finalizes CNET Deal, Names Execs
CNET Networks properties merged into CBS Interactive; Quincy Smith named unit’s CEO, Neil Ashe president.
By Alex Weprin -- Broadcasting & Cable, 6/30/2008 3:21:00 PM
CBS finalized its acquisition of CNET Networks, having merged CNET’s properties into the now-expanded CBS Interactive division.
"This marks day one for the new CBS Interactive," CBS president and CEO Les Moonves said in a statement. "Our unparalleled collection of sites will be an extremely powerful vehicle for advertisers to reach highly attractive demographics. At the same time, CBS Interactive will extend and leverage the power of our traditional businesses, as well as serving as a platform to launch the next generation of leading interactive properties that will play a central role in CBS' future."
The company also announced that current CBS Interactive head Quincy Smith was been named CEO of the new unit, while Neil Ashe, who led CNET, was tapped as president.
The unit will be divided into five verticals geared toward specific audiences, with the hope of targeting like-minded consumers for advertisers:
• News, which will comprise CBSNews.com and CNET news.com;
• Sports, including CBSSports.com, NCAA.com and CBSCollegesports.com;
• Entertainment: CBS.com, TheInsider.com, TV.com, GameSpot, Last.fm and the CBS Audience Network, among other sites;
• Technology: CNET’s bread and butter, with CNET.com at the heart of the vertical; and
• Business: BNET, ZDNet and TechRepublic, among other sites.
The combined assets make CBS Interactive the eighth-largest Web property worldwide in monthly unique visitors, according to ComScore.
