10-K Watch: CNET’s Worried About Jana; Credit Facility Trigger Complicates Things

It is a 10-K kind of day. CNET (NSDQ: CNET) Networks filed its annual 10-K just now, with an added clause in its boilerplate risks section, about its proxy fight with the hedge fund consortium trying to take control of its board: “We anticipate that responding to these proposals and litigation will be time-consuming, expensive and disruptive to normal business operations. In addition, our $250.0 million credit facility includes certain events, including a ‘change of control’, that would cause a default under the credit facility and permit the lender to accelerate the maturity of any outstanding indebtedness with the lender and to terminate the facility. If JANA Partners

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