Ziff Davis is buying CNET for just $100 million

Red Ventures is trading CNET to Ziff Davis, nan integer media and net institution that owns different notable tech publications for illustration Mashable, IGN, and Lifehacker. Ziff Davis’s main executive, Vivek Shah, confirmed nan acquisition to The New York Times connected Tuesday.

Ironically, backmost successful 2000 it was CNET Networks Inc that paid $1.6 billion to get nan past tech-publishing behemoth Ziff-Davis Inc and its online services institution ZDNet. Though truthful overmuch has happened successful nan past 2 decades successful nan shape of divestments and realignments that today’s inverted acquisition isn’t arsenic ouroboric arsenic it mightiness seem. In 2020, Red Ventures acquired CNET on pinch a fewer different smaller properties for $500 million.

While an charismatic fig hasn’t been announced, Ziff Davis reportedly paid “more than $100 cardinal for CNET” according to nan NYT’s sources — a fraction of nan $1.8 cardinal it was weighted astatine erstwhile CBS acquired nan institution successful 2008. In January, Axios reported that Red Ventures was shopping CNET astir for a buyer.

CNET has struggled pinch its image of late. Investigations by The Verge and Futurism successful 2023 recovered that nan website was utilizing generative AI to nutrient immoderate of its articles. Turmoil and layoffs followed but that hasn’t dissuaded Ziff Davis from nan purchase. According to The New York Times, Shah wants CNET because it’s a “well-known manufacture brand” and still has an assemblage that’s ample capable to beryllium charismatic to tech advertisers. “I person a very clear and optimistic position connected content,” said Shah. The executive makes nary mention of really AI mightiness facet into CNET’s early publishing strategy.