Short Take: Amerindo invests $17 million in CNET

CNET has sold 733,000 shares of its common stock, at $24.75 per share, in a private placement totaling $18.1 million. Amerindo Investment Advisors purchased 700,000 shares, representing approximately 4.8 percent of the company; USA Network purchased 25,000 additional shares to maintain its proportionate equity stake in the company; and Douglas Woodrum, CNET?s new CFO, purchased 8,000 shares. Including the shares issued today, CNET?s total number of common shares outstanding is 14,683,000.

Dec. 18, 1997 3:35 p.m. PT

has sold 733,000 shares of its common stock, at $24.75 per share, in a private placement totaling $18.1 million. Amerindo Investment Advisors purchased 700,000 shares, representing approximately 4.8 percent of the company; USA Network purchased 25,000 additional shares to maintain its proportionate equity stake in the company; and Douglas Woodrum, CNET?s new CFO, purchased 8,000 shares. Including the shares issued today, CNET?s total number of common shares outstanding is 14,683,000.