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Red Ventures acquires CNET Media Group from ViacomCBS for $500M | TechCrunch
Another big M&A play is going down in the world of media. Publishing group Red Ventures today announced that it is buying CNET Media Group from
techcrunch.com
Publishing group Red Ventures today announced that it is buying CNET Media Group from ViacomCBS for $500 million. The deal will include the eponymous CNET tech site, as well as ZDNet, Gamespot, TVGuide, Metacritic and Chowhound.
“Red Ventures believes in the power of premium content from trusted brands that help people make better life decisions,” said Ric Elias, Red Ventures CEO and co-founder, in a statement. “Over the last 25 years CNET Media Group has built a dynamic portfolio of brands with well-earned authority on such topics as consumer tech and gaming that play an increasingly important role in people’s lives. Red Ventures is eager to invest in CNET Media Group’s growth with more personalized consumer experiences that will reinvigorate CNET Media Group’s brands and unlock unprecedented opportunity for all.”
Gerstmann confirms the Gb sale on his personal blog:
We all have our radios tuned to the Jeff Zone looking for a transmission from our glorious leader.
You probably know just about as much as I do at this point, I mean I just woke up to a bunch of meeting invites, some of which I’m going to have to miss because I’m out for most of this week handling family things. Anyway, we’re part of the sale, in case there was any question around that. I’m...
jeff.zone
More on Red Venture:
Red Ventures
redventures.com
Oct 8, 2020 Update: CBSi laying off staff prior to sale:
GameSpot undergoes layoffs
Multiple people are being laid off at GameSpot parent CNET Media Group.Branded Content editor Will Fulton and senior so…
www.gamesindustry.biz
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