Sale of CNET to Ziff Davis by Red Ventures
Red Ventures is selling tech news and reviews site CNET to Ziff Davis for over $100 million in a deal that marks a significant shift for CNET. Ziff Davis, a publicly-traded digital marketing company, is set to acquire CNET, which Red Ventures purchased in 2020 for $500 million. This move reflects the changing landscape of digital media and services conglomerates in the U.S.
Key Points
- Red Ventures acquired CNET from ViacomCBS in 2020 for $500 million
- Ziff Davis is a publicly-traded digital marketing company with a market value of $1.94 billion
- The sale price of CNET to Ziff Davis is over $100 million
Pros
- Ziff Davis gains a prominent tech news and reviews site
- Red Ventures can focus on its core business model
Cons
- Potential impact on CNET's existing operations and staff