EXHIBIT 99.2
CNET NETWORKS NAMES NEIL ASHE AS
NEW CHIEF EXECUTIVE OFFICER AND DIRECTOR
Jarl Mohn Named Chairman of the Board
SAN FRANCISCO - October 11, 2006 - CNET Networks, Inc. (Nasdaq:CNET)
(www.cnetnetworks.com) today announced that its Board of Directors has
unanimously appointed Neil Ashe as the Company's new chief executive officer and
director effective immediately. Co-founder and chief executive officer Shelby
Bonnie has resigned as chairman and CEO.
The Company also announced today that Jarl Mohn has been named non-executive
chairman of CNET Networks' Board of Directors. Mr. Mohn has extensive experience
in the media and technology industries. He has previously served as president
and chief executive officer of Liberty Digital, Inc., founding president and CEO
of E! Entertainment Television, and executive vice president and general manager
of MTV and VH1.
"CNET Networks is known for building world class brands for people and the
things they are passionate about. It's been an honor to work with Shelby as we
have grown the company from its technology roots and moved into new categories
like Entertainment, Food and Parenting," said Neil Ashe. "CNET Networks is a
different kind of media company and we are committed to continuing to be
pioneers in interactive content. We have been and will be innovators, and
together with my colleagues worldwide, I am confident about what we can
accomplish. Innovation is part of our DNA and will be fundamental to our success
moving forward."
Jarl Mohn, the newly appointed chairman of the Board, said, "Neil has been
instrumental in CNET Networks' growth and success over the past few years both
as head of corporate strategy and development and through the operation of
several business units. This announcement marks the successful completion of the
Board's succession planning started more than 18 months ago. Neil's broad-based
expertise in all facets of the business, together with his outstanding
management and leadership skills, are valuable assets that will serve our
company well as we continue to expand CNET Networks."
"I am confident under Neil's leadership CNET Networks will continue to play an
important role in the evolving media landscape" said Shelby Bonnie. "He will
build upon the company's legacy and take it to new heights."
Since joining CNET Networks in 2002, Mr. Ashe has led the company's content
expansion strategy, including numerous acquisitions to develop its existing
products and expand into new categories which attract new audience and customer
segments. His day-to-day responsibility for the Community and Lifestyle,
International, Channel, and Business divisions has resulted in new product
development, audience growth and revenue streams for the company.
Prior to joining CNET Networks, Mr. Ashe founded and served as chief executive
officer of several start-up companies and held senior positions in private
equity and investment banking. Mr. Ashe holds an MBA from Harvard Business
School and a BS from Georgetown University.
(The Company issued a separate release today with findings of the Special
Committee of its Board of Directors on the Company's options granting practices
and procedures to the Board of Directors. In addition, the Company also issued a
press release today announcing that it has modified and extended its
solicitation of consents from holders of its 0.75% Senior Convertible Notes due
2024 and updated its third quarter and full year guidance.)
About CNET Networks, Inc.
CNET Networks, Inc. (Nasdaq: CNET, www.cnetnetworks.com) is an interactive media
company that builds brands for people and the things they are passionate about,
such as gaming, music, entertainment, technology, business, food, and parenting.
The company's leading brands include CNET, GameSpot, TV.com, MP3.com, Webshots,
CHOW, ZDNet and TechRepublic. Founded in 1993, CNET Networks has a strong
presence in the US, Asia and Europe.
Contact
Sarah Cain (Media)
415-344-2218
sarah.cain@cnet.com
Cammeron McLaughlin, Investor Relations
415.344.2844
cammeron.mclaughlin@cnet.com
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