Sandell Asset Management

Investor Group Seeks Takeover of CNET Networks Board

Authored by Mark Hefflinger on January 7, 2008 - 9:35am.

New York - A group of investment funds led by Jana Partners has taken a 21% stake in technology publisher CNET Networks (NASD: CNET), and is seeking to oust the company's current directors and take a majority of its board, The New York Times reported, citing people briefed on the proposal. Other entities involved in the proposal -- which CNET has rejected, sources told The Times -- include Sandell Asset Management, Spark Capital and entrepreneur Paul Gardi.