CNET Networks Acquires EDventure Holdings
Esther Dyson Brings Forward-Thinking Analysis to Editorial Team; Release 1.0 and PC Forum Brands Fuel Growth Strategy
SAN FRANCISCO, March 19, 2004 CNET Networks, Inc. (Nasdaq: CNET), a premier global interactive content company, today announced its acquisition of New York-based EDventure Holdings in a cash and stock transaction. Since 1978, EDventure, headed by industry pundit Esther Dyson since 1983, has built a reputation as an independent authority on technology issues through its prestigious Release 1.0 publications and PC Forum executive conferences.
Under the leadership of Esther Dyson and Daphne Kis, both of whom will join CNET Networks, EDventure has built successful fee-based content brands, including Release 1.0, an influential monthly technology report, and PC (Platforms for Communication) Forum, the prestigious annual technology conference for Information Technology (IT) executives, entrepreneurs and investors, which takes place in Scottsdale, Arizona starting Sunday.
The acquisition advances CNET Networks' growth strategy. It adds Esther Dyson's thought leadership and analytical prowess to the company's award-winning editorial team, and helps fuel the growth of its business technology brands, including CNET News.com, ZDNet and TechRepublic. Currently, these brands reach 6 million business technology influencers in an average month in the U.S. alone with award-winning journalism, resources, and communities that help them get up to speed, stay informed, and make smart decisions. EDventure's content and strategic insight will enhance these offerings by providing context around the most important global issues, helping forward-thinking business decision makers anticipate tomorrow's technology trends and stay ahead of the curve.
"As an interactive content leader in a number of categories, we are committed to the continued growth of our business technology Web sites, and Esther and her team will build on our tradition of high quality journalism by helping our large audience of decision makers capitalize on the future of technology," said Shelby Bonnie, Chairman and CEO of CNET Networks.
Through EDventure's long-established and carefully maintained network of global, corporate, Wall Street, and Washington, D.C. leaders, the acquisition enables CNET Networks to deepen its ties with C-level and IT executive audiences, and establish new entry points into financial, political, and technology start-up audiences. In turn, CNET Networks plans to leverage its audience reach and global infrastructure to expand and enhance EDventure's successful fee-based Release 1.0 newsletter and PC Forum event businesses.
"CNET Networks shares our high standard for intelligent journalism and editorial integrity, and it espouses our vision for the future of interactive content as a conversation," said Esther Dyson, who will become editor-at-large of CNET Networks' Business Technology division. "This, combined with the massive size of their targeted business technology audience makes CNET Networks the ideal platform to communicate with the broad community of IT influencers and decision makers worldwide."
About CNET Networks, Inc.
CNET Networks, Inc. (www.cnetnetworks.com) is a premier global interactive content company that informs, entertains, and connects large, engaged audiences with content in the personal technology, games and entertainment, and business technology categories. Known for its editorial expertise, the company combines its award winning content with the power of interactive technology to provide its users an intuitive, dynamic and relevant environment. The company's content portfolio features top brands including CNET, ZDNet, TechRepublic, GameSpot, and mySimon, as well as Computer Shopper magazine, and CNET Channel. With a strong presence in the US, Asia and Europe, CNET Networks has operations in 12 countries.
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