Rumour: CNet for Sale

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Source Title:
CNet for Sale?
Story Text:

Rumours are coming in that CNet is going up for sale.

  • CNET has been in discussions with Viacom (ticker: VIA) and Interactive Corp. (ticker: IAC);
  • AOL (owned by Time Warner, ticker: TWX) and Yahoo (ticker: YHOO) are "rumored to be considering making a bid";
  • No deal is imminent;
  • CNET refused to comment;
  • Sell-side analysts are negative on the stock; Scott Kessler of S&P has a strong sell rating on the stock and Needham recently downgraded the stock to "underperform";
  • Recent deals: Dow Jones acquired MarketWatch, NY Times acquired About.com, Viacom acquired Neopets;
  • Other Internet companies for sale: IGN Entertainment and TheStreet.com.

Big stuff eh?