CNET Networks (NDAQ:CNET) finally began to heed the advice of former president Barry Briggs by undergoing a sort of restructuring that some are speculating could be a precursor to a sale of the company. Investors are hoping that old media companies may take advantage of this opportunity to add a strong online presence to their existing portfolio.

CNET picked up Stephen Colvin from Maxim as executive vice president of the company's entertainment and lifestyle brands. Then the interactive media company announced that it sold its photo-sharing service, Webshots, to American Greetings for $45 million, a price that is $25 million less than what it paid in 2004. The company appears to be making a move towards adding valuable content onto its premium domain portfolio.

"Steven is a dynamic, experienced, and respected media executive who has an impressive track-record of bulding highly successful lifestyle media brands in the U.S. and international markets," said chief executive Neil Ashe. "We're extremely pleased to have him join our executive management team."

In the end, CNET is making a genuine attempt to restructure itself and in the process may become a great target for an old media company. Combined, these factors make CNET a stock worth watching!

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