CBS to buy C|Net for $1.8 billion

According to Yahoo! Business, CBS Corporation is reportedly dropping $1.8 billion dollars to buy out C|Net networks. The deal is estimated at $11.50 per share. This acquisition will make CBS one of the most popular Internet companies in the USA.

CBS Corporation (NYSE: CBS.A - News and CBS - News) has entered into an agreement to acquire CNET Networks, Inc., it was announced today by Leslie Moonves, President and Chief Executive Officer, CBS Corporation. Under the terms of the agreement, CBS will make a cash tender offer for all issued and outstanding shares of CNET Networks for $11.50 per share, representing an equity value of approximately $1.8 billion. The acquisition will make CBS one of the 10 most popular Internet companies in the United States, with a combined 54 million unique users per month, and approximately 200 million users worldwide.