US media giant CBS this week announced it will buy online publisher CNET Networks for $US1.8 billion, ClickZ reports.
The pay-off for that hefty price tag? CBS says it will now be able to reach an online audience of 54 million unique users in the US and 200 million around the world.
The core of CNET’s business is technology publishing though websites such as CNET, ZDNet, GameSpot.com, mp3.com and TechRepublic, but it also owns non-techie sites such as UrbanBaby and BNET.
Also this week US internet and cable giant Comcast confirmed that it will buy web 2.0 online address book and social networking site Plaxo.
According to Reuters, Comcast will pay close to $US175 million for the company, which was around before the likes of Facebook but is only now beginning to take off in popularity.
So, for all you entrepreneurs toiling over your new web business, it just goes to show there is some light at the end of the start-up tunnel.
Smart Company is the leading online publication in Australia for free news, information and resources catering to Australia’s entrepreneurs, small and medium business owners and business managers.
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