CNET grabs ZD for $1.6 billion


— 6:48 AM on July 19, 2000

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.

Through the acquisition CNET will gain Ziff-Davis' technology publication Computer Shopper, online educational service Smart Planet and online technology information site ZDNet.

..and some more on the scale of the deal:
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.
 
   
Register
Tip: You can use the A/Z keys to walk threads.
View options

This discussion is now closed.