6 posts and columns on Jana Partners

Wrath of Icahn

in News on May 15, 2008 at 11:00 am PT

CNetBS

in News on May 15, 2008 at 5:05 am PT

“The Stars’ Address is CBS.” And now it’s CNET Networks’ as well. CBS this morning said it agreed to buy the Internet news and entertainment company for $1.8-billion in cash. The deal values CNET at about $11.50 per share–a 44.6% premium to yesterday’s closing price of $7.95. That’s $.50 more than the $11 Jana Partners, the investment management firm plotting a proxy fight for control of the company’s board, had hoped to squeeze out of CNET, so presumably even dissident investors are glad to see CBS stepping in here.
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CNET and Jana: The Battle Drags On

in News on May 14, 2008 at 5:00 am PT

In another micro-move in the fight between activist shareholders and CNET, the Delaware Supreme Court given the thumbs up to a lower court ruling that the Jana Partners group can nominate a slate of directors to the board of San Francisco-based tech news and reviews site. CNET has been fighting these efforts by Jana–along with Sandell Asset Management, Alex Interactive Media, Spark Capital and Velocity Interactive Group–to nominate two director and expand the board and add more of their own nominees–claiming it was contrary to its bylaw. Apparently not!
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CNET's Response to Jana: Thanks, But No Thanks, You Fibber!

in News on April 2, 2008 at 12:38 am PT

After dissident shareholders, led by Jana Partners, landed one right in the kisser to the board and management of CNET Networks yesterday–releasing a 38-page report that essentially called the company’s leadership incompetent, the tech news and review site gave the literary effort a kiss-off of its own. First, rather politely, CNET said that Jana’s proposed [...]

CNET's Activist Investors Write the Book of (Not-So-Much) Love

in News on April 1, 2008 at 6:15 am PT

Unfortunately, for CNET (CNET) Networks, it’s not an April Fool’s joke, but more lump of coal to the tech news and review site’s management and board. Today, a group of very obviously stubborn activist investors, who have been seeking to gain CNET board seats and make other major changes at the company to boost its [...]

CNET in Distress

in News on March 27, 2008 at 11:37 am PT

While BoomTown has not paid enough attention to the ongoing, well, debacle at CNET, its announcement that it was conducting layoffs and also making a variety of changes was a major moment for the company. Using the term “workforce realignment,” an ominous-sounding phrase that calls to mind how job shifts were once made in the [...]