Red Ventures is selling CNET to Ziff Davis, the digital media and internet company that owns other notable tech publications like Mashable, IGN, and Lifehacker.
Ziff Davis’ chief executive, Vivek Shah, confirmed the acquisition to The New York Times on Tuesday. Ironically, back in 2000, it was CNET Networks Inc. that paid $1.6 billion to acquire the then-tech-publishing-behemoth Ziff-Davis Inc. and its online services company, ZDNet. So much has happened in the last two decades in the form of divestments and realignments that today’s inverted purchase isn’t as ouroboric as it might seem.
8 billion it was valued at when CBS acquired the company in 2008. In January, Axios reported that Red Ventures was shopping CNET around for a buyer. CNET has struggled with its image of late. Investigations by The Verge and Futurism in 2023 found that the website was using generative AI to produce some of its articles. Turmoil and layoffs followed, but that hasn’t dissuaded Ziff Davis from the purchase.
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