CBS is purchasing internet company CNet for $1.8 billion, or $11.50 per share, the corporation said today. CNet owns many popular internet sites, including Download.com, as well as several gaming resources (Gamespot, GameFAQs, Metacritic), and technology resources (TechRepublic, CNet.com).

CBS' motivation for the deal is probably obvious: to increase its online prescence. The corporation plans to integrate its broadcast networks with CNet's resources. In a conference call with reporters, CBS' CEO Leslie Moonves said this opportunity with such a large audience was a "large part" of the reason for the acquisition:

"Our idea is to have our content wherever, whenever you can get it, and adding CNet just makes that happen faster."

For CBS, this also looks like an opportunity to shift their programming to the online medium somewhat, as its chief of interactive business Quincy Smith has been pursuing this avenue for some time now, in light of the change in demand.

CBS feels the price is fair too, stating "We feel like we got a terrific value with this company."

Looks like good news for CNet as well, as the company was in the middle of some rough legal battles with one of its largest shareholders.

This is just one of a few major deals the corporation has inked this year, two others included partnerships with Eqal (responsible for "lonelygirl15" and "KateModern") for programming in multiple formats, and with AOL Time Warner, providing content from 140 of their radio stations to its music service.

CBS is owned in turn by Summer Redstone and National Amusements, the latter of which operates over 1500 movie theaters worldwide, Viacom (MTV Networks, BET, Paramount Pictures, DreamWorks), and Midway Games.