ViacomCBS Reaches Deal to Sell CNET for $500 Million to Marketing Firm Red Ventures

ViacomCBS is offloading CNET Media Group in a $500 million deal with digital-marketing company Red Ventures, which announced the deal Monday.

Under the deal, CNET Media Group EVP and GM Mark Larkin, along with the unit’s senior execs, will remain with Red Ventures following the acquisition. The CNET sale is expected to close in the fourth quarter of 2020. CNET Media Group has 980 employees and “our plan is to grow CNET in ways unforeseen,” a Red Ventures rep told Variety. She declined to address whether the company anticipates any layoffs following the deal close, saying that “right now we’re focusing on how we grow.”

CBS acquired CNET Networks in 2008 for $1.8 billion. In addition to the flagship CNET consumer-tech site, the CNET Media Group also houses brands including GameSpot, the Metacritic reviews-aggregation site, TVGuide.com, Chowhound, Roadshow, and B2B tech site ZDNet.

“I believe that the combination of

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Orthopaedic Research UK and Embryo Ventures Launch Novara Therapeutics to Accelerate Commercialisation of Pioneering Medical Technology

Joint Venture Company Novara Therapeutics is set to advance diagnosis and treatment of bone fractures through a patented bone-targeting contrast agent.

Orthopaedic Research UK (ORUK) and Embryo Ventures (Embryo) announce the formation of Novara Therapeutics, a joint venture company, to commercialise a patented bone-targeting contrast agent. Novara Therapeutics will focus on pre-clinical development of the proprietary imaging and therapeutic technology to advance diagnosis and treatment of bone disease in patients.

Osteoporosis is the most common bone disease, affecting over 200 million people worldwide1. The condition is characterised by a progressive reduction in bone mass and strength that results in more than 8.9 million osteoporotic fracture annually1. With one in three women and one in five men aged over 50 years experiencing an osteoporotic fracture in their lifetime, the condition poses a major public health challenge that is expected to increase markedly as the world’s ageing population

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