RealTime IT News

Today's Deals: Internet Tech Media Firms Get Hitched

CNET Networks + ZDNet, Conexant Systems + NetPlane Systems, Digital Impact + MineShare, GetThere + AllMeetings, Net2Phone + Aplio, TMP Worldwide + QD Group, Turnstone Systems + Paragon Solutions

 CNET Networks (CNET) acquires ZDNet (ZDZ)


   *  Amount:         $1.6 billion


   *  Terms:            50 million shares

   *  Premium:        n/a


   *  Industry:        Content/Communities


   *  Scorecard:      B


    SAN FRANCISCO, July 19--CNET Networks and ZDNet announced that they have signed a definitive merger agreement by which CNET will acquire ZDNet to provide technology information and related services to businesses and individuals across multiple platforms, including online, wireless devices, television, radio and print. To effect the acquisition of ZDNet, CNET Networks will acquire the outstanding common stock of Ziff-Davis, Inc. . Each share of ZD common stock will be converted into 0.3397 shares of CNET common stock and each share of ZDNet common stock will be converted into 0.5932 shares of CNET common stock. CNET expects to issue approximately 50 million shares of common stock in the transaction, valued at approximately $1.6 billion. Read analysis of this deal in Kelly Black's