CNET Networks Issues Statement
CNET Networks (Nasdaq: CNET) 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."
[JT]
Subscribe to EasyStockAlerts.com Now & Get The News Before Everyone Else!
Create E-mail AlertRelated Categories
Corporate NewsStocks Mentioned
+0.00Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
