01:15 PM EDT, 08/06/2024 (MT Newswires) -- Ziff Davis ( ZD ) is acquiring tech-focused media website CNET in a deal valued at over $100 million with current owner Red Ventures, according to media reports Tuesday.

The proposed acquisition is part of Ziff Davis' ( ZD ) broader strategy to purchase digital media businesses, The New York Times reported, citing Ziff Davis ( ZD ) Chief Executive Vivek Shah.

The sale is expected to close in Q3, Variety reported, citing a Ziff Davis ( ZD ) rep.

Ziff Davis ( ZD ), CNET and Red Ventures did not immediately respond to requests for comment from MT Newswires.

Price: 40.46, Change: +0.28, Percent Change: +0.71