I couldn't believe my eyes when I saw this story at News.com this morning. Here's the skinny:
CNET Networks will acquire Ziff-Davis in a deal valued at about $1.6 billion, expanding its global presence of technology information, the company announced today...and some more on the scale of the deal:
Through the acquisition CNET will gain Ziff-Davis' technology publication Computer Shopper, online educational service Smart Planet and online technology information site ZDNet.
Combined, the companies have an online audience of 16.6 million unique monthly users and would rank as the eighth largest property on the Internet with a reach of 22 percent, according to a statement. The companies will have cash and marketable securities of about $600 million.My initial reactions are: A) Boy, the Internet really has come of age, if CNET can buy ZD, and B) It's a shame to see the healthy competition between these two companies come to a halt. Their big indexes of things like digital camera reviews were both useful, for instance. Now there will be just one.
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