ViacomCBS Sells CNET to Red Ventures for $500M

(Image credit: CNET Media Group)

CHARLOTTE, N.C. & NEW YORK—The CNET Media Group should soon have a new home, as ViacomCBS has agreed to sell the digital media portfolio that includes the CNET technology news brand to Red Ventures and its lineup of digital brands.

CNET launched 25 years ago covering nearly all aspects of technology and has expanded into the CNET Media Group, a collection of digital media brands featuring consumer tech, business tech, gaming and entertainment media brands.

“Red Ventures believes in the power of premium content from trusted brands that help people make better life decisions,” said Ric Elias, Red Ventures CEO and co-founder. “Over the last 25 years CNET Media Group has built a dynamic portfolio of brands with well-earned authority on such topics as consumer tech and gaming that play an increasingly important role in people’s lives. Red Ventures is eager to invest in CNET Media Group’s growth with more personalized consumer experiences that will reinvigorate CNET Media Group’s brands and unlock unprecedented opportunity for all.”

Mark Larkin, executive vice president and GM of CNET Media Group, and his senior team will remain with the company and in their leadership positions following the acquisition.

The transaction is expected to close in Q4 2020 following regulatory approvals and customary closing conditions.

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