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Old Media Buys New

Piers Fawkes, PSFK

Tech news site CNET is to be bought by TV company CBS for an estimated $1.75b. Alongside CNET.com, CNET runs News.com, TV.com and Mp3.com. The BBC reports:

The companies said the combined group would have “significant additional exposure” to online advertising. The deal will make CBS: “one of the 10 most popular Internet companies in the United States”, with 54 million US users and 200 million worldwide, CBS said in a statement.

BBC News

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