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Summary:

As a TV company, CBS (NYSE: CBS) has long skewed older, a notion CEO Les Moonves has both embraced and bristled at. The company’s $1.8 billi…

imageAs a TV company, CBS (NYSE: CBS) has long skewed older, a notion CEO Les Moonves has both embraced and bristled at. The company’s $1.8 billion purchase of CNET (NSDQ: CNET) Networks could help alter that image, even as CBS has made notable strides on its own with CBS Interactive and digital acquisitions like WallStrip and Last.fm. I spoke with several digital ad agency execs about their initial impressions and, so far, it’s hard to find much downside for either company. The main points: CBS gets access to a younger audience interested in tech products – meaning, unless CBS flubs things somehow, it will have an easier time attracting consumer electronics marketers, in much the same way having MarketWatch brought in financial services advertisers.

Although the announcement was made a day after CBS’ upfront presentation, during which Moonves and company highlighted the network’s wider focus on new media in addition to TV, the combination isn’t likely to impress buyers and advertisers all that much yet. Greg Smith, COO of Neo@Ogilvy, OgilvyOne

  1. Scott Norwalk Friday, May 16, 2008

    I think this is a sign of the times, and a move that many "old fashioned" media outlets should and will be making. In regard to the recent election, you see Politico.com contributors on cnn and msnbc all the time. The acquisition of CNET will allow this kind of convergence for CBS.

    I think its a great move and just underlines the fact that online information outlets will be more and more important to traditional media moving forward.

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  2. great reporting guys. Keep this story coming.

    I think this is a good move for CBS . CB/NET
    http://furrier.org/2008/05/15/cbs-20-cbs-buys-cnet-expect-cbs-to-let-cnet-run-things/

    take a look at my friend Fred Davis' post..he worked there from the beginning.
    http://fredtime.com/?p=118

    Vertical Advertising and Content is the new big trend. Smart for both CBS and CNet

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