Blog Post

Quadrangle Looked At Taking Stake in CNET Networks

imageThis weekend we reported that a private equity firm was in discussions to take a minority stake in CNET Networks (NSDQ: CNET). Now we have confirmed through sources that the firm was Quadrangle Group, the media and communications focused PE firm founded by Steve Rattner. The talks on Quadrangle’s side were led by Dan Rosensweig, our sources say, which seems logical since Rosensweig was the president of CNET Networks prior to joining Yahoo (NSDQ: YHOO), and his experience at both the companies gave him enough insight into the issues with CNET Networks. He left Yahoo in March last year, after one of the major reorgs.

According to the filing, “Between January 31, 2008 and April 7, 2008, representatives of the Company and the private investment firm discussed a potential transaction. After a discussion among the Company Board, members of the Company