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<PAGE> 1
EXHIBIT 99.1
CNET NETWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(000s)
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
September 30 September 30
---------------------------- ----------------------------
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
Revenues:
Internet $ 54,212 $ 26,838 $ 145,490 $ 69,041
Broadcast 2,227 1,571 7,554 4,995
------------ ------------ ------------ ------------
Total revenues 56,439 28,409 153,044 74,036
Cost of revenues:
Internet 17,284 9,155 45,399 23,611
Broadcast 2,670 2,324 7,553 5,699
------------ ------------ ------------ ------------
Total cost of revenues 19,954 11,479 52,952 29,310
Gross profit 36,485 16,930 100,092 44,726
Operating expenses:
Sales and marketing 19,646 32,998 57,197 45,115
Development 4,712 1,904 11,252 5,069
General and administrative 6,167 4,807 18,847 10,002
Amortization of goodwill 67,859 5,224 162,232 6,461
------------ ------------ ------------ ------------
Total operating expenses 98,384 44,933 249,528 66,647
------------ ------------ ------------ ------------
Total operating income (loss) (61,899) (28,003) (149,436) (21,921)
Other income (expense)
Gain (loss) on investments 37,311 97,791 106,895 122,365
Other income (expense), net 243 (312) 253 112
------------ ------------ ------------ ------------
Total other income (expense) 37,554 97,479 107,148 122,477
------------ ------------ ------------ ------------
Net income (loss) before income taxes (24,345) 69,476 (42,288) 100,556
Income taxes 19,206 40,222 49,608 40,222
------------ ------------ ------------ ------------
Net income (loss) $ (43,551) $ 29,254 $ (91,896) $ 60,334
============ ============ ============ ============
Basic net income (loss)
per share $ (0.50) $ 0.40 $ (1.10) $ 0.85
============ ============ ============ ============
Diluted net income (loss)
per share $ (0.50) $ 0.35 $ (1.10) $ 0.76
============ ============ ============ ============
Shares used in calculating
basic per share data 87,073 72,536 83,485 70,790
============ ============ ============ ============
Shares used in calculating
diluted per share data 87,073 86,105 83,485 79,086
============ ============ ============ ============
</TABLE>
<PAGE> 2
CNET NETWORKS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(000s)
<TABLE>
<CAPTION>
September 30, December 31,
2000 1999
------------- -------------
<S> <C> <C>
ASSETS
Current assets:
Cash and cash equivalents $ 203,051 $ 53,063
Investments in marketable debt securities 39,433 65,985
Investments in marketable equity securities 121,552 785,909
Accounts receivable, net 34,714 24,628
Other current assets 30,928 18,743
Restricted cash 822 740
------------- -------------
Total current assets 430,500 949,068
Investments in marketable debt securities 98,061 109,802
Investments in marketable equity securities 8,203 --
Property and equipment, net 45,071 30,044
Other assets 750,785 141,397
------------- -------------
$ 1,332,620 $ 1,230,311
============= =============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 7,443 $ 11,461
Accrued liabilities 32,159 16,398
Current portion of long-term debt 333 5,750
Tax related liabilities 60,347 311,750
------------- -------------
Total current liabilities 100,282 345,359
Minority interest 2,854 --
Long-term debt 189,643 179,114
------------- -------------
Total liabilities 292,779 524,473
Stockholders' equity:
Common stock 9 7
Additional paid in capital 944,264 218,670
Other comprehensive income (155,312) 121,409
Retained earnings (deficit) 273,855 365,752
Treasury stock, at cost (22,975) --
------------- -------------
Total stockholders' equity 1,039,841 705,838
------------- -------------
$ 1,332,620 $ 1,230,311
============= =============
</TABLE>
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