Report: ViacomCBS in Talks to Sell CNET for $500 Million, Plans to Unload Other Assets
ViacomCBS (NASDAQ: VIA) is apparently going on a diet. The company is discussing the sale of its CNET tech portal to privately held Red Ventures, a holder of numerous digital properties, according to an article published Tuesday in The Wall Street Journal. Citing "people familiar with the matter," the Journal writes that the price under discussion is around $500 million.
ViacomCBS is a company in flux. It was created last year from the merger of sibling media companies Viacom and CBS, and is concentrating on the improvement of its balance sheet partially through the disposal of non-core assets like CNET.
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Source Fool.com
