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Cnet buys ZDnet

News by Vaggabond Contributor
Published on

In another big move today, CNET Networks has agreed to acquire Ziff-Davis (CNET) for $1.6 billion in stock, The Wall Street Journal reported in Wednesday's electronic edition. Under terms of the deal, CNET will exchange 0.59 of a share for each of Ziff-Davis' 85 million shares, the newspaper reported.

Its weird that the world is getting more and more like the way people like Geroge Orwell predicted, with 3 or 4 big corporations doing everything from games to kitchen knives. Very soon there will only been 3 or 4 companies that own big entertainment outlets for people, from AOL/TimeWarner to everyone's favorite monopoly, Microsoft. Other industries seem to be following suit.

Of big intrest to gamers is that the acquisition means that both GameSpot and Gamecenter, two of the largest gaming sites on the net, will be owned by the same parent. No word on how that will impact either gaming site, nor are there details yet on any other changes this may provoke.

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