| Title: | CNET Networks, Inc. (M&A Insight Note) |
| Price: | $100.00 |
| Publication Date: | Jan 11, 2008 |
| Company: | CNET Networks, Inc. |
| Report Type: | M&A Insight Note |
| Brief Excerpt: | ...On Jan. #, activist hedge fund Jana Partners filed a ##D amendment in which it reported the fund has increased its ownership of CNET Networks (CNET), a Web site operator, on both a voting and economic basis. Jana is leader of a disside nt shareholder consortium th at includes fellow hedge fund activist Sandell, venture capital firm Spark and media entrepreneur Paul Gardi. The consortium, which now holds a ##% voting interest in CNET, is unhappy with the company s performance and is nominating two dissident candidates to the CNET board at the next annual meeting. In addition, the consortium seeks to amend the company bylaws to expand the board size by five seats and to fill those seats with additional dissident nominees, in effect taking control of the ##-member board. ... |
| Word Count: | 1764 |
| Length: | 4 Pages |
| Ticker: | CNET |
| Related Report(s): | - CNET Networks, Inc. (Corporate Governance Quotient (CGQ)): $250.00
...Only one inside director and no affiliated outsiders serve on the board The nominating committee is comprised solely of independent outside directors The compensation committee is comprised solely of independent outside directors The company has a committee that oversees governance issues and the committee met in the past year There are between six and eight directors serving on the board The CEO serves on the boards of two or fewer other companies No former CEO of the company serves on the board Chairman and CEO are separated and Chairman is an independent outsider The company has governance guidelines that have been publicly disclosed on company website The performance of the board is reviewed regularly Outside directors meet without the CEO present A board approved CEO succession plan is in place Board members have express authority to retain outside advisors Directors are required to submit a letter of resignation upon a job change A majority...
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