SAN FRANCISCO (Dow Jones News) -- CNET Inc. said Tuesday it acquired KillerApp Corp., an Internet media company, for about $46.7 million in stock.
CNET, a San Francisco-based producer of Internet network and television programming, exchanged 500,000 of its shares for the company.KillerApp, which operates a network of comparison shopping services for computer and consumer electronics products, will become part of CNET's online shopping service, CNET said.
CNET had 1998 revenues of $56.4 million.
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In Tuesday morning trading, shares of CNET rose 5.6 percent, or $5.18 3/4, to $98.43 3/4, on the Nasdaq Stock Market.