CNET buys Ziff-Davis for $1.6bn

CNET, a US provider of technology news and information, is buying Ziff-Davis for $1.6bn in stock.

LONDON (Brand Republic) - CNET, a US provider of technology news and information, is buying Ziff-Davis for $1.6bn in stock.

The deal will see CNET take on Ziff-Davis’s assets -- which includes educational website SmartPlanet, the magazine and website Computer Shopper, and the ZDNet.com site. The new company will have 1,600 employees. The deal, which is subject to shareholder approval, is expected to be completed in the fourth quarter.

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