Jul 2, 2008 8:02 am US/Eastern
CBS, CNET Join Forces
NEW YORK (CBS) ―
CBS and CNET have joined forces to form the 8th largest Web network in the world.
While CNET may be best known for their coverage of technology, the company also runs Web sites on parenting, gaming and business, to name a few.
CNET has been a dominant force in technology reviews for the past decade. But CNET networks also include CHOW.com, an online food resource. It covers everything from coping with unruly children in a restaurant to making the perfect margarita.
For gamers, CNET's network includes Gamespot.com, which reviews games ranging from those aimed at kids to those targeted for mature audiences only.
BNET.com covers business and finance, including topics like asking the boss for a raise in a professional way.
CNET's extensive video reviews will also be making its way their way on to your newscasts, covering everything from how to choose the best HDTV to how to chop an onion.
CBS's chief of interactive business Quincy Smith has been moving aggressively to find new online outlets for its entertainment programming as more people shift their media consumption from traditional outlets like TV and radio to the Internet.
CNET recently reported a narrower first-quarter loss and said revenue grew by 2.6 percent to $91.4 million.
The company was founded in 1992 by Shelby Bonnie and Halsey Minor. Bonnie was chief executive until 2006, when he resigned amid an accounting scandal related to the timing of stock option grants. To clean up that mess, CNET took non-cash charges of $105.7 million during the 10 years ending in 2005 and restated its financial statements.
CNET is a part of CBS Corporation, which also includes this Web site.
(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
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