JANA Partners Raises Stake in CNET to 10.5%, Seeks Two Board Seats
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JANA Partners LLC increased its voting stake in CNET Networks, Inc. (Nasdaq: CNET). JANA now holds approximately 10.5% of CNET's voting stock and maintains a separate approximately 6% non-voting economic interest.
JANA and its partners had beneficially own approximately 8% of CNET's voting stock and JANA has an additional approximately 8% non-voting economic interest in CNET.
In addition, Sandell Asset Management now holds an approximately 1.5% voting interest and maintains a separate approximately 3.5% non-voting economic interest in CNET.
JANA has joined with Sandell, Paul Gardi of Alex Interactive Media, Spark Capital and Velocity Interactive Group in seeking to elect two individuals to replace the board members who are up for re-election at CNET's 2008 stockholders meeting and to expand CNET's board by five members and nominate individuals to fill those vacancies.
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+0.00Related Entities
- Sandell Asset Management
- JANA Partners LLC
- Spark Capital
- Alex Interactive Media
- Velocity Interactive Group
- Barry Rosenstein
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