CNET sells Webshots for $45 million
CNET announced that it is selling its WebShots photo-sharing site for $45 million to American Greetings. CNET had acquired the business in 2004 for $60 million in cash and $10 million in deferred compensation, so this definitely is a write-down of sorts for CNET. For AG, it means they can expand from online greeting cards into photo sharing.
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