CNET Buys Chinese Portal For $16 Million

CNET Networks, which is set to report its Q3 earnings in 30 minutes, has bought out the assets of ZOL and Fengniao, which operate the zol.com.cn and fengniao.com Web sites, respectively…The transactions total $16 million in cash payments to be paid over the next two quarters, with payment beginning in the Q4 of 2004.

ZOL is one of the leading providers of online personal technology-related content and shopping services in Northern China. Fengniao is one of China’s leading digital photography properties…

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