ViacomCBS sells Metacritic, GameSpot, others to Red Ventures in $500 million deal

A freshly inked deal between ViacomCBS and advertising and marketing company Pink Ventures sees ViacomCBS’s whole CNET Media Team offered to Pink Ventures.

Consistent with Selection, the $500 million deal is predicted to near later this 12 months, and brings manufacturers like GameSpot and Metacritic below Pink Ventures possession. 

The precise spaces of experience coated by way of CNET Media Team are most commonly new territory for Pink Ventures, with the corporate telling Selection that the purchase targets to boost up the wider corporate’s growth into new verticals like shopper tech and video video games. 

“During the last 25 years CNET Media Team has constructed a dynamic portfolio of manufacturers with well-earned authority on such subjects as shopper tech and gaming that play an increasingly more essential position in folks’s lives,” reads a commentary from Pink Ventures CEO and co-founder Ric Elias. “Pink Ventures is keen to spend money on CNET Media Team’s enlargement with extra customized shopper reviews that can reinvigorate CNET Media Team’s manufacturers and release unparalleled alternative for all.”

Selection notes that a Pink Ventures consultant declined to touch upon the opportunity of layoffs throughout the purchase procedure and as a substitute famous that Pink Ventures is recently “specializing in how we develop” and plans “to develop CNET in techniques unexpected.”

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