CNET Networks Comments on Jana Partners' White Paper
CNET Networks (Nasdaq: CNET) commented on Jana Partners' white paper, which was prepared in connection with its proposed proxy contest.
CNET Networks said that now that JANA has made public its proposed strategies, they will be carefully reviewed. To the extent there are any new strategies that would create stockholder value, they will be implemented. CNET Networks added that while it welcomes the views of its stockholders, after a preliminary review, the white paper contains numerous misstatements and is misleading in many respects. The Company will respond in due course.
CNET Networks' new management team is committed to further improvement and remains focused on executing against the Company's established business strategy to create further value and realize long-term opportunities for all stockholders. The CNET Networks management team is delivering against its plan in order to grow the Company. CNET Networks has become one of the largest interactive premium content publishers in the world and is one of the top 10 Internet companies globally.(1) In the fourth quarter of 2007, CNET Networks' averaged 148 million unique users per month globally(2), generating nearly 83 million web page views per day.(3) [TJ]
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