The television company CBS has said yes to the information and have agreed to buy technology news and entertainment website CNET.

The deal has been finally done for about $1.75bn. CNET has sites like ZDNet, News.com, TV.com, Mp3.com, MySimon, and Gamespot under its shed and has a massive internet user base. This deal ensures a boost in the online presence for CBS. CBS has offered $11.50 a share in cash for the deal, which is 45% more than CNET''s closing price on Wednesday.

As per the updates the deal will make CBS to stand among one of the 10 most popular Internet companies in the United States. With this combination the company will have 54 million US users and 200 million users globally.

With confirmation news clouding market, the deal is still subjected to approval by regulators and CNET shareholders.

For integration purposes, CBS has drawn a strategy to combine the sites with its own like CBSSports.com and CBSNews.com.

Renu Singh, ITVoir Network