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CNET Acquires Chinese Site

This story was written by Rafat Ali.
CNET (NSDQ: CNET) Networks, in the process of being bought by CBS Corp (NYSE: CBS). is buying Beijing-based 55BBS, a lifestyle and shopping website, for an undisclosed sum. This comes amidst rumors about CNET rethinking its Chinese portfolio, and possibly even disposing it off as part of the CBS transaction.

55BBS was established in May, 2004. It is a lifestyle and consumer information providing website and covers shopping, food, personal health, marriage, travel, and other lifestyle content. The Chinese language release is here.

By Rafat Ali