The transaction is expected to close in the fourth quarter of 2020.
CNET Media Group operates digital tech news brand CNET, as well as ZDNet, Gamespot, TVGuide, Metacritic and Chowhound.
"Red Ventures is eager to invest in CNET Media Group's growth with more personalized consumer experiences that will reinvigorate CNET Media Group's brands and unlock unprecedented opportunity for all,” stated Ric Elias, Red Ventures CEO-cofounder.
Mark Larkin, executive vice president and general manager of CNET Media Group, and his senior team will remain with the company after the acquisition.
"I believe the combination of Red Ventures customer-experience platform and CNET Media Group's rich content and deep editorial expertise greatly benefits both our audiences and our partners," stated Larkin.
Red Ventures was formed in 2000 as a performance-marketing startup and now owns more than 100 digital brands.
The acquisition of CNET Media Group “accelerates Red Ventures' entry into new verticals,” including consumer tech and gaming, according to a company statement.
Red Ventures has brands in the home services, health, finance, travel, education and entertainment categories.
In 2019, Red Ventures acquired Healthline Media, which includes Healthline.com, Greatist.com and Medical News Today.
In 2017, Red Ventures bought Bankrate, adding to its portfolio Bankrate.com, The Points Guy and CreditCards.com.In June, Red Ventures and Time Inc. announced a partnership to launch personal finance site NextAdvisor.