I understand the idea of CBS buying CNet, but for $1.8 Billion???

CBS will pay $11.50 a share for CNET. The all-cash deal represents a premium of 44% above the $7.95 CNET closed at yesterday.

As AlleyInsider notes, CNet hasn't traded above $10 in years. This isn't as much of an over-payment as Schwartz made for MySQL, but - then again - it takes real work to land in the same "waste money like an idiot" league that he lives in.

On the positive side, CBS just bought a ton of good podcast knowledge. The question is, are the managers there in the Zucker "customers are thieves" mindset, or do they understand the way things are changing?

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