CBS See’s Net as Useful

CNets Allure for CBS: Both Are Laggards – Bits – Technology – New York Times Blog

So CNet is finally being bought.

In January, I wrote a post called “The Problem With CNet: No One Wants to Buy It.” Every Internet and media company has looked closely at CNet. They are intrigued because it is a leader in its category of tech news and reviews, with some good technology and brands. But it is growing slowly, and its cost base is so high that its profit margins are meager. And the asking price, which hovered between $1 billion and $2 billion, scared off all the potential buyers.

So what is different for CBS, which announced today that it will pay $1.8 billion for CNet?

For one, CBS is also a company with well-known brands and sluggish growth. So CNet adds some luster to CBS, even if it would drag down other theoretical buyers like Yahoo.

Interestingly, on a conference call with investors this morning, CBS said that its own Internet properties — like Sportsline and the Web site for the Grammy Awards — are actually growing faster than CNet is.

Pretty good analysis of the brands and deal there.  Bascially CBS is paying an absolute crapload for some good domain names.  C-Net has been a solid ‘net brand for a long time, but never really jumped into the huge category.  I have serious doubts that CBS will do amazing things with the properties, but have and in your stable of properties should be beneficial for an old-scheel TV business with a long term news brand.

What?! A Bit of Truth on Fox?!

Crooks and Liars » Chris Wallace backpedals on Fox News criticism

Enter “Fox News Sunday” host Chris Wallace. “Hey, listen, I love you guys but I want to take you to task, if I may, respectfully, for a moment,” Wallace said on the air. “I have been watching the show since six o’clock this morning when I got up, and it seems to me that two hours of Obama bashing on this ‘typical white person’ remark is somewhat excessive, and frankly, I think you’re somewhat distorting what Obama had to say.”

Wow, it’s pretty incredible to call out the hyenas.  Nice ethics, maybe Wallace isn’t such a good pirate.

The follow-up

On Monday afternoon — with clips of the confrontation having seemingly ricocheted to every far-flung corner of the Web and with everyone from official Obama bloggers to MSNBC’s Chris Matthews rushing to pat Mr. Wallace on the back — [The Observer] caught up with Mr. Wallace via phone. The longtime newsman said that in retrospect he had mixed feelings about making the remarks.

“I didn’t have any second thoughts about the substance because I still believe what I said was right,” said Mr. Wallace. “But after the fact, you do think to yourself — on a professional level with colleagues I very much like and respect — should I have done that off camera?”

“It’s a close call,” said Mr. Wallace. “I’m not sure I’d do it again.”

All right…as you were.   I can almost think sometimes that Wallace wants to be a legit journalist, then he always falls back in line.