CyberMedia Group Acquires 20 Per Cent Stake In Computer Shopper

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CIOL: CyberMedia group is going great guns. The Delhi-based IT publications group went public last year. That was a big moment in Indian print media industry (of course companies like HT Media are also listed now), because it showed that if you can think big and make it happen, then you have your place under the sun.
The group, promoted by Pradeep Gupta, has now acquired a 20 percent stake in the US-based SX2 Media Labs LLC, a new company formed by David Sills and Stoneybrook Capital. Sx2 Media Labs LLC had recently taken over Computer Shopper magazine (from CNET Networks), a 26-year-old print publication, which serves as a monthly guide to new technology and shopping guide for more than 300 products per issue on information technology and related items.
The transaction is effective immediately, CyberMedia said. Earlier this month, New York-based Sx2 Media Labs acquired part of CNET’s publishing business portfolio comprising of Computer Shopper, CNET Digital Living, College Buying Guide, Computershopper.com and custom publishing that together generated revenues in excess of $19 million during the fiscal year ended Dec 2004.

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