Valleywag (Free subscription) | yesterday
Under the wing of CBS, CNET CEO Neil Ashe will continue to earn his $700,000 salary. He'll also get a 100 percent bonus and, in the next 10 days, a long-term stock award of "not less than $1,625,000... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Silicon Alley Insider (Free subscription) | yesterday
We know that CBS intends to retain CNET management after the $1.8 billion acquisition. Now we know what CEO Neil Ashe and CFO Zander Lurie will be paid. Their amended employment agreements, per CNET's 8K : Neil Ashe, CEO Annual Salary: $750,000 plus 100% bonus Long term stock award: not less than $1,625,000 per year The first stock award for Ashe is granted within...
Paidcontent (Free subscription) | 05/15/2008
Spent a few minutes talking earlier today with Quincy Smith, president of CBS Interactive, and Neil Ashe, CEO of CNET ( NSDQ: CNET ), about this morning's news. Given that the $1.8 billion deal is far from closing, the two hewed close to the talking points of the day and skirted around a number of subjects. The plans for now: the CNET team would stay intact and in San Francisco with...
TechCrunch (Free subscription) | 05/15/2008
CNET CEO Neil Ashe, who has been accused of “presiding over massive value destruction” will go down in history as the guy that was forced to sell CNET out to an old media dinosaur. But at least he’s given CNET's stockholders back all of the losses they've sustained under his watch with the $1.8 billion [...]
CentOS, Linux and Operating Systems (Free subscription) | 05/15/2008
An anonymous reader writes “According to an announcement made today by Neil Ashe, CEO of CNET Networks, CBS has acquired CNET Networks. “Today, CNET Networks announced that it has been acquired by US media company CBS, in a deal valued at $1.8bn. The agreement represents an important strategic step for both companies and should be [...]
TechBlogger (Free subscription) | 05/15/2008
An anonymous reader writes “According to an announcement made today by Neil Ashe, CEO of CNET Networks, CBS has acquired CNET Networks. “Today, CNET Networks announced that it has been acquired by US media company CBS, in a deal valued at $1.8bn. The agreement represents an important strategic step for both companies and should be [...]
Red Orbit (Free subscription) | 16 hours ago
... to join CBS and combine our interactive media experience with CBS's world-class content," CNet CEO Neil Ashe added in the statement. Under the deal, which CNet's board has approved, CBS will pay $11.50 a share for the San Francisco online media company. That represents a 45 percent premium to CNet's closing price Wednesday of $7.95 a share. CNet expects to maintain a large degree...
Silicon Alley Insider (Free subscription) | 05/15/2008
A quick post-announcement check-in with CBS digital boss Quincy Smith, and Neil Ashe, who will be reporting to him if CBS' $1.8 billion bid for CNET goes through. The message: The deal makes sense because the two offer non-overlapping, complimentary assets that can grow faster when combined. Cost-cutting? Sure, there will be some -- during the conference call this morning CBS CEO Les...
Silicon Alley Insider (Free subscription) | 05/15/2008
CBS will pay $11.50 a share for CNET. The all-cash deal represents a premium of 44% over above the $7.95 CNET closed at yesterday. Will it be enough to satisfy JANA et al? Les Moonves, Quincy Smith, Neil Ashe, etc will discuss the proposed deal during an 8:30 conference call. We'll cover live. Release folllows ------ CBS CORPORATION TO ACQUIRE CNET NETWORKS, INC. CBS to Become a Top...
Red Orbit (Free subscription) | yesterday
CNet CEO Neil Ashe declined to respond directly when asked if the proxy fight played a role in his decision to sell to CBS or whether he has spoken to Jana about the deal. "I realize that there's drama around the shareholder thing, but there's only so much we can say about this other than that it's a great transaction for all of our shareholders," he said.
San Diego Union (Free subscription) | yesterday
... and combine our interactive media experience with CBS's world-class content,” CNet Chief Executive Neil Ashe said in a statement. The CNet purchase price of $11.50 a share represents a 45 percent premium on the stock's closing price Wednesday. The transaction has been approved by the CNet board and is expected to close in the third quarter, the companies said. Shares of CNet closed...
NewsObserver.com - Business (Free subscription) | yesterday
Corporations seen as complementary.
Red Orbit (Free subscription) | yesterday
... to join CBS and combine our interactive media experience with CBS's world-class content," CNet CEO Neil Ashe added in the statement. Under the deal, which CNet's board has approved, CBS will pay $11.50 a share for the San Francisco-based online media company. That represents a 45 percent premium to CNet's closing price on Wednesday of $7.95 a share. CNet expects to maintain a large...
Valleywag (Free subscription) | 05/15/2008
... If buying CNET was Smith's one big idea, we'll gladly lend him another: Shuffle current CNET CEO Neil Ashe out the door as soon as possible.(Image by )
MediaChannel (Free subscription) | 05/15/2008
... thrilled to join CBS and combine our interactive media experience with CBS's world-class content,” Neil Ashe, CNET chief executive said. “CNET Networks operates some of the most important premium online brands, serving the most sought after online audiences.”By Thomas Mulliganthomas.mulligan@latimes.com
