CNET Networks Issues Statement
CNET Networks, Inc. (Nasdaq:CNET) today issued the following statement in response to JANA Partners’ statement made in connection with a proposed proxy contest:
“It comes as no surprise that JANA Partners today issued a statement attempting to take credit for CNET Networks’ initiatives and attacking our active and engaged board.
“CNET Networks has constantly innovated. Since 2007, CNET Networks has made significant strategic, financial, personnel and operational progress. The Company has sharpened its focus on core brands, disposed of underperforming assets, recruited industry leaders to replace almost half of its executive management team, made strategic acquisitions solidifying the Company’s leadership in key categories and geographies, added two independent members to its Board, resolved legacy legal issues, realigned its workforce, and is exploring ways of optimizing international operations. CNET Networks continues to execute on its strategy to focus on its leading brands while altering its business model to accelerate growth and drive profitability. Today, CNET Networks is the 10th largest Internet network in the world.
“CNET Networks’ diverse and experienced board of directors is comprised of eight directors, seven of whom are independent. CNET Networks’ board and management team have been and remain intensely focused on acting in the best interests of the Company and creating value for all stockholders.”
About CNET Networks, Inc.
CNET Networks, Inc. (Nasdaq:CNET) is an interactive media Company that builds brands for people and the things they are passionate about, such as gaming, music, entertainment, technology, business, food, and parenting. The Company’s leading brands include BNET, CHOW, CNET, GameSpot, and TV.com. Founded in 1992, CNET Networks has a strong presence in the US, Asia, and Europe.
IMPORTANT INFORMATION / SOLICITATION PARTICIPANTS LEGEND
CNET Networks and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of CNET Networks in connection with the upcoming annual meeting of stockholders. Information regarding the special interests of these directors and executive officers in connection with the matters to be voted on at the annual meeting will be included in the proxy statement filed by CNET Networks in connection with the annual meeting. In addition, CNET Networks files annual, quarterly and special reports, proxy and information statements, and other information with the Securities and Exchange Commission (the “SEC”). These documents are available free of charge at the SEC’s web site at www.sec.gov or from CNET Networks at www.cnetnetworks.com. STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT CAREFULLY WHEN IT IS AVAILABLE, AS IT WILL CONTAIN IMPORTANT INFORMATION THAT STOCKHOLDERS SHOULD CONSIDER BEFORE MAKING ANY VOTING OR INVESTMENT DECISION.