We haven't heard much from the Jana Partners LLC contingent following CBS Corp.'s May 15 announcement that it would buy CNet Networks Inc. for $1.8 billion.
Jana leads an investor group that wants to nominate directors and raise other matters at CNet's 2008 annual meeting. The firms have criticized the media company for failing to translate its strong brands into shareholder value.
Tech Confidential spoke with a person close to the proxy process who said that Jana and its investor group, which own roughly 21% of CNet, is still reviewing the transaction. At first glance, the deal supports Jana's reason for going after CNet, the person said.
