PrintCBS Buys CNET, Owner of Chowhound
As reported today, CBS is dropping $1.8 billion in cash on CNET. CNET in turn owns popular food site Chowhound. Remember the old days of Chowhound, when it was simply, basically, black text on a white background and the pages took forever to load? Amazing to see it go from a bedroom operation under founder Jim Leff to a property of a major entertainment network. Informed chowhounders are already anticipating changes, like their valiant foodie leader Leff appearing on CBS sitcoms and Letterman.
Updated: Jim Leff opines on the purchase: “What we don’t need, however, is a broader slice of diners participating. A real flood of unsavvy diners could dilute the knowledge level.”
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2 Comments:
What is CBS going to do with Chowhound? It doesn't really fit into their portfolio very well.
Raphael at 7:58PM on 05/15/08
I'm not certain what CBS would do with Chowhound, though I'm not certain what CNET was doing with it, either. Maybe they'll maintain it as is, or maybe it'll get sold off to a company like Scripps, owners of Food Network and Fine Living. Whatever happens, I predict that Mr. Leff is going to get a very rough schooling in matters business.
dantsea at 9:18PM on 05/15/08