A few weeks ago, when CNET sold off its photo-sharing site WebShots for a loss, we noted that the San Francisco media company had also taken out a $250 million loan that would most likely be used for more acquisitions.
Today, CNET announced it has purchased article-search company FindArticles.com for an all-cash deal worth $20.5 million from LookSmart, an online advertising and services company.
FindArticles provides free and or for-fee access to more than ten million articles from 3000 news sources.
The news comes as LookSmart has also announced a disappointing third quarter, citing lower-than-expected revenue from its advertising clients.
9:17 am
MySpace and LookSmart kick out the startups [Real Estate] »TechAddress said:
[...] report and a recent trend of selling off pieces of the company (like yesterday’s all-cash sale of FindArticles to CNET), we don’t blame LookSmart employees for jumping to up-and-coming businesses. Perhaps the [...]
9:30 am
“Inside every old person is a young person … [Overheard] »TechAddress said:
[...] report and a recent trend of selling off pieces of the company (like yesterday’s all-cash sale of FindArticles to CNET), we don’t blame LookSmart employees for jumping to up-and-coming businesses. Perhaps the [...]
1:05 pm
ONLINE SERVICES/INTERACTIVE MEDIA « Daily Marauder said:
[...] San Francisco media company CNET is acquiring FindArticles.com in an all-cash deal worth $20.5 million from online advertising firm LookSmart. FindArticles.com houses some 11 million resource articles from 3,000 sources, including magazines, trade publications and newspapers. (http://venturebeat.com/2007/11/08/cnet-buys-findarticlescom-from-looksmart-for-205-million 11/8) [...]
1:59 pm
Mercado TIME - 2 said:
[...] - BlogsFarm compra AppleBlog.es, blog de Apple en castellano - CreditCards.com IPO Update - CNet buys FindsArticles.com from LockSmart for $20,5M - Makeover Solutions, Inc. Secures $7.0 Million in Financing - Socialtext Names Former Adobe & [...]
2:14 pm
Blog de Fotografía » Blog Archive » Links De La Semana 2º said:
[...] - BlogsFarm compra AppleBlog.es, blog de Apple en castellano - CreditCards.com IPO Update - CNet buys FindsArticles.com from LockSmart for $20,5M - Makeover Solutions, Inc. Secures $7.0 Million in Financing - Socialtext Names Former Adobe & [...]
11:41 am
VentureBeat » Venture firms, other investors, aim for hostile takeover of CNET said:
[...] Most recently, it purchased article-indexing site FindArticles for $20.5 million in November (our coverage), having previously sold off photo-sharing site Webshots for $45 million (our coverage) — [...]