ViacomCBS is close to clinching a deal to sell CNET to Red Ventures for about $500 million, according to Wall Street Journal sources.
The deal, which has been under discussion for several weeks now, could be announced as early as today, “assuming the talks don’t fall apart,” reports WSJ.
The CNET network of websites includes GameSpot and ZDNet.
The Red Ventures digital is a media holding company that now includes personal finance site Bankrate, acquired in 2017; Healthline Media health/wellness sites, acquired last year; consumer products reviews site Reviews.com; and travel rewards site The Points Guy, among other properties.
ViacomCBS has been seeking to generate cashflow to support its video streaming push, including expansion of CBS All Access.