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Source:CenterNetworks

Below are our live notes from the conference call regarding CBS’ plan to acquire CNET.

8:37 Fred -

8:34 - Les - both companies have complementary online businesses. He talks about the different businesses and how they will combine together. This deal puts us in every media sector in a big way. We can easily launch new and big sites. CNET brings a large, talented online sales team and brings video game inventory. We believe the combined company will see big growth for CNET. We love the international opportunities and having a profitable channel in China. The people from CNET are the key to this deal and we will have some of the best talent in the industry. We are excited about the possibilities going forward. Revenues of $450 million and EBITDA of $92 million in 2008 and the combined companies could see $1 billion in revenue by 2010/2011 and we plan to combine both companies together into a new interactive grouping.

8:32 - Les (CBS CEO) - explains the terms of the deal. CBS will become a top 10 media company with over 54 million unduplicated uniques. CNET will be combined with CBS Interactive once the deal closes including the distribution network. From entertainment to news to music to etc, CBS and CNET will have attractive demographics that fit now and the future. We are always looking for strategic acquisitions particularly in interactive content.

8:30 - hold music

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This entry was posted on Thursday, May 15th, 2008 at 7:42 am and is filed under cnet, cbs, Quick News, Acquisitions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.