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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