CNET Networks, Inc. Acquires ZDNet

Posted on July 19, 2000

Technology publishing companies CNET Networks, Inc. and ZDNet have announced that they have signed a definitive merger agreement by which CNET will acquire ZDNet. Together the companies claim an online audience of 16.6 million unique monthly users. Prior to the completion of this merger and as a condition to the merger, Ziff-Davis, as previously announced, will spin off its trade show and conference business.

``Technology is driving the global economy,'' said Shelby Bonnie, CEO of CNET Networks, Inc. ``Our vision is to provide trusted information and marketplaces for buyers and sellers of technology products. We supply the independent information they need to buy better, sell more efficiently, and be more productive in business. Our union accelerates our ability to participate in this multi-trillion dollar global market throughout the supply chain.''

``We're creating a company with global reach and anticipated revenues in excess of half a billion dollars next year,'' said Dan Rosensweig, president and CEO of ZDNet, who will become president of CNET Networks, Inc. ``Marketers will be able to target the most active buyers through our powerful, trusted brands, including ZDNet, CNET and mySimon. Both companies have set themselves apart by providing in-depth, award-winning information and services that facilitate transactions.''

Bonnie will continue as CEO of CNET Networks, with Rosensweig as president of CNET Networks. Richard Marino, currently president of CNET.com will be promoted to Chief Operating Officer of CNET Networks. Barry Briggs will continue as president of ZDNet and Josh Goldman as president of mySimon. A representative from Softbank will be joining the CNET Board of Directors.