The company, founded in 1992, has more than 2,600 employees. It has been particularly hard hit because of increased competition in its core market from technology-focused blogs like TechCrunch, written by a handful of people at a fraction of the cost. In September, page views at TechCrunch surpassed those at CNet’s News.com, long considered the industry stalwart. In October, TechCrunch and its sister site had eight million page views compared with News.com’s six million page views, according to comScore Media Metrix.
TechCrunch adds this:
CNET is currently worth $1.3 billion, but many people argue that the value of the parts is greater than that, and have recommended that the company sell off more assets for cash. Last quarter, CNET lost $16.65 million on $99.5 million in revenue.
Another media company in play this year is Weather Channel. Tech Crunch: The Weather Channel On The Market For $5 Billion+
One more from NY Times: The Problem With CNet: No One Wants to Buy It
Usually trouble-making investors find undervalued companies with management that is resistant to being acquired. CNet, I suspect, would be quite happy to sell, but its big problem right now is that it is overvalued, especially to the established media companies that are its most likely buyers.