CBS Plans More Internet Investments
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CBS Corp. is reportedly eyeing other Internet investments in hopes of continuing to expand its online reach and satisfy Wall Street's increasing demand for Internet issues.
According to published reports, CBS Chief Executive Officer Mel Karmazin told entertainment industry executives Wednesday more deals are coming over the next few months, but he would not elaborate. Karmazin was speaking at an entertainment industry conference in New York.
Both of those companies had successful initial public offerings. MarketWatch.com rocketed to $130 after going public in January, but has fallen to about half that level. Still, it now has a value of $784 million. SportsLine shares have more than quadrupled since debuting Nov. 19.