industry news
Breaking: CBS Snags GameSpot In $US 1.8 Billion CNET Acquisition
Posted by Leigh Alexander at 12:40 AM on May 16, 2008
CBS Corporation just announced an agreement to buy CNET for $US 1.8 billion dollars. Through the deal, all of CNET's network sites, including GameSpot, TV.com mp3.com, CNET news.com, UrbanBaby, CHOW, Search.com, BNET, MySimon and TechRepublic all become property of CBS.
CBS' existing online network already includes CBS.com, CBSSports.com, CBSCollegeSports.com, MaxPreps.com, CBSNews.com, last.fm, Wallstrip, MobLogic, and the CBS Radio and CBS Television Stations digital media
platforms. CBS says its distribution net, the Audience Network, comprises 300 partner sites and reaches 82% of U.S. web users.
"CNET Networks operates some of the most important premium online brands, serving the most sought after online audiences," said CNET CEO Neil Ashe. "Today's announcement brings together two organisations that complement each other and working with Leslie, Quincy and the talented people at CBS, we look forward to taking our business and our brands to the next level."
Full announcement follows the jump.

When long-time GameSpot reviewer and editorial director Jeff Gerstmann was let go from the site last November—with sources pointing to his review of Kane & Lynch: Dead Men as the catalyst for his termination—fingers were also pointed at executive Josh Larson, VP of games at parent company CNET. Larson, who replaced former Editor in Chief Greg Kasavin, was implicated by anonymous GameSpot employees to have had the "church-and-state" separation between the sales teams and the editorial team" "cracked" under his tenure. Whether the VP, Jeff's supervisor at the time, was the key decision maker in letting Gerstmann go we can't confirm, but we can confirm that Larson will be leaving the company next week.
Ryan Davis, an associate editor, experienced reviewer and nearly 8-year GameSpot veteran, has become the latest to quit in the wake of former editorial director Jeff Gerstmann's termination. GameDaily.biz reports today that it has confirmed with
CNet Networks announced today that GameSpot veteran Ricardo Torres has been named the new Editor In Chief of the online publication, replacing former site lead Greg Kasavin in the role. The site had been without an official EIC since Kasavin's departure in January of last year to work at Electronic Arts. Torres, who shared editorial director duties with
CNET just published a story by Don Reisinger claiming that the Super Nintendo was the greatest console of all time. He argues that the console was the ultimate successor, "a follow-up that was worthy of the 'Super' moniker and gave developers the license they needed to create the legendary titles that we still play today." Personally, I'd agree with his casually argued logic—there's a reason I'm anxious to port Super Mario World to every device on the planet but bored by the thought of playing PSOne games on the PSP. Of course, this is all just one man's opinion and many of you won't agree. So go ahead and vote below before elaborating in the comments. 
After the
GameSpot has finally responded in force to the Jeff Gerstmann situation, addressing the topic once and for all...though still not revealing why he was fired for unspecified legal reasons. With no more ado, let's just cut right to the chase.
MTV's Stephen Totilo exchanged some emails with ex-GameSpot review Jeff Gerstmann. And while Gerstmann didn't go on record saying anything all that juicy, he did have something telling to say about the separation of advertising and reviews: