ViacomCBS Inc. is in talks to sell technology news and reviews site CNET to digital-media holding company Red Ventures LLC, according to people familiar with the matter, as the media giant looks to shed noncore assets and focus on video streaming. The price being discussed for CNET is about $500 million, some of the people said. Red Ventures—which operates consumer websites such as Bankrate and Reviews.com—and ViacomCBS declined to comment. In addition to CNET, ViacomCBS is looking to sell Simon & Schuster, seeking at least $1.2 billion for the book-publishing company. ViacomCBS also said it plans to sell “Black Rock,” CBS’s historic Midtown Manhattan headquarters, expected by some analysts to fetch at least $800 million.

Source: Wall Street Journal August 18, 2020 16:45 UTC