CBS closes CNET Networks acquisition

CBS announces it has closed its acquisition of CNET Networks, in a move to expand the media company's CBS Interactive division.

CBS announced Monday it completed its $1.8 billion acquisition of CNET Networks, publisher of many Web sites including CNET News.com, setting the stage for expanding its CBS Interactive division into five categories.

Under the acquisition, CBS Interactive will include such categories as technology, entertainment, sports, news, and business. The division will be headed up by Quincy Smith, former CBS Interactive president, who will now serve as its CEO. Neil Ashe, former CNET Networks CEO, will become president of the business unit.

CBS Interactive's technology category will include CNET.com, CNET Reviews, Download.com, and others. The entertainment category will include TV.com, GameSpot.com, Chow.com, CBS.com, TheInsider.com, Last.fm, and the CBS Audience Network, while the sports category will include CBSSports.com, CBSCollegeSports.com, and NCAA.com.

CBS Interactive will also incorporate the news category, serving as home to CNET News.com, for technology news, and CBSNews.com, which features global news and current events. The business division will operate BNET.com, as the anchor to its business-related content, as well as ZDNet and TechRepublic, which serve readers who use tend to use technology for large corporations.

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