Cnet Networks (CNET) will be acquired by CBS for $1.75 billion, or $11.50 a share. That’s well below my $17 target price, which I expected to see after Cnet showed better monetization of their traffic, and it’s a great deal for CBS. As I say on the website: “This could turn into a multi-year hold, or it could be bought out at any time.” Even though we are booking an 8.6% profit in eight months during a tough overall market, I am sorry to see the company sold so cheaply. But this is a done deal, unless Jana Partners, the dissident shareholders that led a proxy fight, won’t go along and look for a higher bid. Hold CNET for now until we see if there is another bidder. We’ll sell the stock in a few weeks if the CBS is the buyer and $11.50 is the price.