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Short Take: Ziff shareholders OK CNET deal

Ziff-Davis says that its shareholders have approved the company's merger with CNET Networks, publisher of News.com. CNET has said it expects to issue approximately 50 million shares of common stock in the transaction. As a result, holders of Ziff and ZDNet stock will hold about 35 percent of the equity of the combined company. CNET shareholders will vote on the merger Tuesday. The deal is expected to close in the fourth quarter.

Ziff-Davis says that its shareholders have approved the company's merger with CNET Networks, publisher of News.com. CNET has said it expects to issue approximately 50 million shares of common stock in the transaction. As a result, holders of Ziff and ZDNet stock will hold about 35 percent of the equity of the combined company. CNET shareholders will vote on the merger Tuesday. The deal is expected to close in the fourth quarter.