The New York Times is reporting that a group of investors has gathered a 21% stake in CNET and is trying to take over the board of directors and seriously shake things up. This comes after years of poor stock performance, including a 19% decline over the last three years as other Internet companies have soared.
But it really isn’t as bad as it sounds … apart from the fact that I work in Australia, which is quite removed from CNET in the US despite being the same company, much of this is typical Techcrunch overhyping. CNET US has some issues (and probably too many employees in their head office), but internationally its doing quite well.
Still, it’s an interesting experience to have speculation on the fate of the company you work for pop up in the news like this every so often …