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Shares of CNET Soar on Rumors of Possible Sale

Authored by Mark Hefflinger on July 6, 2005 - 4:51am.
San Francisco -- Shares of San Francisco-based CNET Networks closed up more than 10% last Thursday following reports that the technology-focused media company is shopping for a buyer. The New York Post reported that CNET has "had discussions" with Viacom and Barry Diller's InterActiveCorp, among others, and that investment banks are vying for the deal. AOL and Sunnyvale-based Yahoo are also rumored to be considering making a bid. "What makes CNET attractive is its huge amount of traffic," one source familiar with the matter told the Post. "These media companies think they can turn it into the next Google or Ask Jeeves." According to the sources, no deal is imminent.
http://www.nypost.com/business/25587.htm
tags: CNET | Sale | Rumors | Shares |



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