CBS Buys CNET, Changes Web Strategy?


[CBS chief executive Les Moonves (image cred)]

One news item certainly lighting up blogs and Twitter streams everywhere is CBS’ purchase of CNET for $1.8 billion.

The New York Times notes that CBS chief executive Les Moonves may have opted for change in the company’s web strategy.

“We are not going to spend $1.6 billion on YouTube,” he told the paper a year and a half ago, in an effort to ensure investors that the company’s digital strategy would not include large acquisitions.

In the official press release, issued Thursday, Moonves states, “There are very few opportunities to acquire a profitable, growing, well-managed Internet company like CNET Networks. Together, CBS and CNET Networks will have significant additional exposure to the fastest-growing advertising sector and can accelerate our growth through a number of new content, promotion and advertising initiatives.”

We were considering reaching out to some CNET writers for comment, and then saw this Twitter post from CNET social media reporter Caroline McCarthy:

No, I don’t have any insider details for you, so you might as well not ask in the first place.

Well then, that settles that.