ViacomCBS Sells CNET for $500 Million

The popular and durable CNET tech news and reviews internet portal is about to have a new owner. Entertainment conglomerate ViacomCBS (NASDAQ: VIA) has signed a definitive agreement to sell CNET's parent, CNET Media Group, for $500 million to privately held Red Ventures, both companies announced in a joint press release.

Since its founding in 1992, CNET Media Group has grown to encompass notable digital assets in its field. In its portfolio are tech news site ZDNet, and a popular video gaming review platform, GameSpot. These should compliment the numerous digital properties owned by Red Ventures, which include online personal finance portal Bankrate.

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Source Fool.com