So, a few days ago HP bought EDS. Today, CBS is buying CNET.com, a technology news and reviews Web site. In the battle of the acronyms, who will come out as the best acronym-laden acquisition? While the CBS/CNET deal is chump change ($1.8 billion) compared to HP/EDS ($13.9 billion), it’s still nothing to laugh at.
Why did CBS buy? Well, it may have a little something to do with getting more Internet traffic. And, as has been noted, advertising is one of the few mediums whose revenue is not being too harshly affected by the recession. And what’s one of the fastest-growing channels for advertising? Yep; the Internet. In addition, CNET’s traffic numbers played a big role in the deal.
According to a press release, the acquisition will make CBS one of the top 10 “most popular” Internet companies, with a combined 54 million unique users per month. Of course, we love nothing more than the totally weird PR-speak that goes into press releases, so I can’t resist this choice quote from CBS Interactive’s Quincy Smith:
“The core businesses of CNET Networks and CBS Interactive represent near perfect category symmetry in premium online content.”
That’s about five adjectives and one verb. Well done. In the meantime, I’m begging CBS to let me know when they will start airing a new season of the reality TV show Kid Nation. That was an hour of television whose content was both premium and near perfect. [TechCrunch]
