Ziff Davis, a digitally focused publisher built around technology news and information, is adding CNET to a portfolio that already includes Mashable, PCMag and Lifehacker. Media company Red Ventures is said to be getting more than $100 million for CNET, known as an early pioneer among online media outlets. Ziff Davis CEO Vivek Shah, who in 2010 led a buyout of the 100-year-old publishing house he now heads, said the acquisition is part of an expansion plan funded by the company’s $800 million cash on hand at a time when artificial intelligence is boosting the long-term value of content.

“There’s enough uncertainty, which can convince people to say, ‘I don’t know if I want to stay around to find out what’s going to happen. But I have a very clear and optimistic view on content,” Shah told The New York Times.

Shah “predicted more deals across the industry, as tech giants like Google and Meta snatch an increasing portion of digital ad spending and as advances in artificial intelligence threaten to further disrupt the digital-media landscape,” notes NYT.

CNET was itself roiled by AI when in early 2023 it was reported that the site “was publishing articles produced with the aid of generative artificial intelligence, prompting the company to refine some of its publishing guidelines,” NYT reports.

The outlet was founded 30 years ago, and “CBS bought it in 2008 at an eye-popping valuation of $1.8 billion,” NYT writes. That was followed by a 2020 purchase by Red Ventures for around $500 million from CBS parent corporation Paramount Global.

In June, CNET drew 38 million visitors, according to data from Similarweb.

Variety calls it “a turnabout of sorts: In 2002, CNET Networks Inc., then a publicly traded company, closed a $1.6 billion deal to acquire Ziff Davis Inc. (a separate entity from the current Ziff Davis) and ZDNet.” Ziff Davis is publicly traded, with a current market cap of $1.84 billion.

The sale to Ziff Davis is expected to close in Q3, subject to regulatory approval and closing conditions. Variety says a spokesperson for the buyer declined to confirm the $100 million price reported by NYT.

Commenting on his publishing niche, Shah told NYT that “technology and telecom products and services — whether for an individual, their home or business — continue to be complicated. There’s lots of choice that requires advice. So I think there’s just real editorial need for it.”