Sections

Celebrating employer excellence in the video games industry

8th July 2021

Submit your company

ViacomCBS sells CNET Media Group to digital marketing company Red Ventures

CNET Media Group includes GameSpot, Metacritic, and Giant Bomb

Digital media and marketing company Red Ventures has announced it has purchased CNET Media Group from Viacom CBS for a total of $500 million.

The sale is expected to close in Q4 of 2020, with CNET Media Group EVP and GM mark Larkin and other senior executives moving to Red Ventures along with the acquisition.

Red Ventures declined to comment to Variety when asked if this acquisition would result in any layoffs.

CNET Media Group includes gaming outlets GameSpot and Giant Bomb, as well as reviews aggregator site Metacritic.

It was purchased by CBS back in 2008 for $1.8 billion, and CBS re-merged with Viacom in December of last year.

Red Ventures is a digital marketing and advertising agency that was founded in 2000, with a portfolio that currently includes health, finance, travel, entertainment, and other brands.

The company hopes the acquisition of CNET will speed its push into technology and gaming industries.

"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," said Red Ventures CEO Ric Elias.

"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."

Celebrating employer excellence in the video games industry

8th July 2021

Submit your company

More stories

IGN staff "appalled" by removal of post calling for Palestinian aid

74 employees of media outlet co-sign open letter criticizing "blatant disregard for the most basic standards of journalistic integrity," asking for piece to be republished

By Brendan Sinclair

Bring back Ape Escape | Podcast

Latest episode also discusses Ubisoft's free-to-play shift and the problem with PS5 scalpers

By GamesIndustry Staff

Latest comments

Sign in to contribute

Need an account? Register now.