10-Q Watch: More CNET Acquisitions; SEC Options Inquiry Becomes Formal


CNet Networks (Nasdaq: CNET) continues to make small acquisitions worldwide: in its 10-Q filed earlier today with SEC, some more names and prices (some of which have been disclosed earlier): During first half 2007, Cnet acquired Gamekult (Gameamp) in France and Land-is in Japan, and acquired the assets of ea3w.com and Stor-Age in China. Gamekult is a video game content site, while Land-is is a tech white-paper repository site. Ea3w.com is a home consumer electronics buying guide and Stor-Age is an online media site focused on providing information on storage technology. CNet paid an aggregate purchase price totaling $11.8 million for these acquisitions, consisting of $10.6 million paid in cash, $0.3 million in direct acquisition costs and a $0.9 million note payable due in July 2008 bearing interest at the rate of 4.0 percent.

Meanwhile, as its expenses from ongoing litigation over stock option accounting keep mounting ($3 million in Q2), its revealed in the filing that SEC has issued a formal order of investigation and served subpoenas on certain of CNET Networks

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