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CNETBS? CBS Buys Out CNET

Oh snap! In the interesting move of the day, CBS and CNET announced a deal this morning whereby CBS will purchase CNET for $1.8 billion! While this is certainly not the $44 billion + we were looking at for the Yahoo! and Microsoft merger, this is still a large chunk of change for a internet company. This will give CBS control of not only CNET, but download.com, MP3.com, News.com, and all the other CNET domains.

How exactly was this news broken to the general public? Via Twitter of course! Dan Farber, the guy currently behind all that is CNET, posted up a quick tweet a couple hours ago, and since then the news has taken off. This, of course, was not the "official" press release, but it still provided the basic nugget that we all needed to know. Never let anyone tell you new media isn't making any ground.

CBS to buy CNET Networks [CNET]
[via: Brian Averly]