CNET Acquired By Ziff Davis For $100 Million
Deal Marks Third Corporate Parent For Tech Publication
Transaction Includes Farewell From Red Ventures
In a recent development, digital media giant Ziff Davis has acquired CNET from Red Ventures for over $100 million. This marks the third corporate parent for the popular tech publication following its previous acquisitions by Red Ventures in 2020 and CBS Interactive in 2008.
The acquisition includes the CNET brand, website, and editorial team. Ziff Davis, which also owns technology-focused brands such as Mashable and PC Mag, is expected to integrate CNET into its existing portfolio of digital media properties.
Red Ventures, a digital media and marketing company based in South Carolina, acquired CNET along with several other properties for $500 million in 2020. The sale to Ziff Davis marks a strategic divestment for Red Ventures as it focuses on its core businesses.
Ziff Davis CEO Marc Berman expressed excitement about the acquisition, stating that CNET is "an iconic brand" with a "loyal audience." He added that the company plans to invest in CNET's content and expand its reach.
The transaction is expected to close in the third quarter of 2023. The acquisition of CNET by Ziff Davis is a significant development in the tech media landscape, bringing together two well-respected brands in the industry.
As the digital media ecosystem continues to evolve, it will be interesting to see how Ziff Davis leverages CNET's strengths and audience to further establish its position as a leading provider of technology news and reviews.
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