SAN FRANCISCO--(BUSINESS WIRE)--Oct. 25, 2007--CNET Networks, Inc.
(NASDAQ:CNET), a leading interactive media company, today announced
the sale of its Webshots business to American Greetings, effective
immediately, for approximately $45 million in cash. Webshots, a
leading photo-sharing property, was purchased by CNET Networks in
August 2004. American Greetings is one of the world's largest
manufacturers of social expression products.
"This transaction enables CNET Networks to continue to focus on
key areas of growth," said Neil Ashe, CEO of CNET Networks. "We're
pleased that Webshots can become an important ingredient to American
Greetings business."
Further information regarding the transaction will be provided on
the CNET Networks third quarter 2007 conference call today, October 25
at 5:00 p.m. EST. A live broadcast of the conference call will be
available via webcast, which can be accessed by visiting the CNET
Networks Investor Relations website home page at
http://ir.cnetnetworks.com and clicking on the link provided. The
conference call will also be available via telephone by dialing (800)
344-1035 (international: (706) 679-3076).
About CNET Networks, Inc.
CNET Networks, Inc. (Nasdaq:CNET) (www.cnetnetworks.com) is an
interactive media company that builds brands for people and the things
they are passionate about, such as gaming, music, entertainment,
technology, business, food, and parenting. The Company's leading
brands include CNET, GameSpot, TV.com, MP3.com, CHOW, UrbanBaby,
ZDNet, BNET, and TechRepublic. Founded in 1992, CNET Networks has a
strong presence in the US, Asia, and Europe.
CONTACT:
CNET Networks, Inc.
Sarah Cain, 415-344-2218 (Media)
Sarah.cain@cnet.com
Cammeron McLaughlin, 415-344-2844 (Investors)
cammeron.mclaughlin@cnet.com
SOURCE: CNET Networks, Inc.
