24/7 Wall St.
05-15-2008, 11:20 AM
24/7 Wall St. Daily News
It is almost impossible to imagine what the CBS (CBS) management and board were thinking when they bought CNET (CNET) for $11.50 a share or $1.8 billion. CNET has done so poorly that the shares have not been above $10 since April 2006. The high price CBS is paying borders on being irresponsible. A look at CNET's last 10-Q shows how troubled the company is .A large internet content operation should probably be showing revenue increases of 12% to 18%. In the last quarter, CNET revenue went from $89.1 million to $91.4 million, an increase of under 3%. CNET claims...http://feeds.feedburner.com/~f/typepad/RyNm?i=JCPkPH</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=JCPkPH) http://feeds.feedburner.com/~f/typepad/RyNm?i=Dr1gUH</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=Dr1gUH) http://feeds.feedburner.com/~f/typepad/RyNm?i=TGIS1h</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=TGIS1h)
complete story here... (http://www.247wallst.com/2008/05/cbs-cnet-the-wo.html)
It is almost impossible to imagine what the CBS (CBS) management and board were thinking when they bought CNET (CNET) for $11.50 a share or $1.8 billion. CNET has done so poorly that the shares have not been above $10 since April 2006. The high price CBS is paying borders on being irresponsible. A look at CNET's last 10-Q shows how troubled the company is .A large internet content operation should probably be showing revenue increases of 12% to 18%. In the last quarter, CNET revenue went from $89.1 million to $91.4 million, an increase of under 3%. CNET claims...http://feeds.feedburner.com/~f/typepad/RyNm?i=JCPkPH</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=JCPkPH) http://feeds.feedburner.com/~f/typepad/RyNm?i=Dr1gUH</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=Dr1gUH) http://feeds.feedburner.com/~f/typepad/RyNm?i=TGIS1h</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=TGIS1h)
complete story here... (http://www.247wallst.com/2008/05/cbs-cnet-the-wo.html)