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CBS buys CNET in $1.8 bil deal


May 15, 2008 CBS Corp. is ponying up $1.8 billion in cash to buy CNET Networks and join the ranks of the top 10 U.S. Internet companies. CBS Corp. said the acquisition elevated its online reach to 54 million unduplicated unique users for the month of March based on comScore data and about 200 million users worldwide. "There are very few opportunities to acquire a profitable, growing, well-managed Internet company like CNET Networks," CBS Corp. president and CEO Leslie Moonves said Thursday.

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