CNET NETWORKS INC
8-K, 2000-03-13
MOTION PICTURE & VIDEO TAPE PRODUCTION
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                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549



                                    FORM 8-K



                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT Of 1934



                Date of report (Date of earliest event reported):
                         March 13, 2000 (March 9, 2000)



                               CNET Networks, Inc.
               --------------------------------------------------
               (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)

       Delaware                    0-20939                    13-3696170
       --------                    -------                    ----------

   (STATE OR OTHER              (COMMISSION FILE             (IRS EMPLOYER
   JURISDICTION OF                  NUMBER)                 IDENTIFICATION NO.)
   INCORPORATION)


              150 Chestnut Street, San Francisco, California 94111
              ----------------------------------------------------
               (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)



               Registrant's telephone number, including area code:
                                 (415) 395-7800




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ITEM 5.    OTHER EVENTS.

         Effective March 9, 2000, the Registrant has named Shelby Bonnie,
formerly Vice Chairman of the Board of Directors, as its Chief Executive
Officer. Halsey Minor, the Registrant's former Chief Executive Officer, will
remain Chairman of the Board of Directors. Further information is provided in
the press release attached as Exhibit 99.1 hereto, which is incorporated herein
by reference.

ITEM 7.    FINANCIAL STATEMENTS AND EXHIBITS.

                  (c)      Exhibits

                  99.1     Press Release dated March 9, 2000.




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                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

    Dated:  March 13, 2000                  CNET NETWORKS, INC.



                                            By:  /s/ DOUGLAS N. WOODRUM
                                                 ----------------------------
                                                 Douglas N. Woodrum
                                                 Executive Vice President and
                                                 Chief Financial Officer



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                                INDEX TO EXHIBITS
<TABLE>
<CAPTION>

   Exhibit
    Number                   Description
    ------                   -----------

<S>             <C>
    99.1        Press Release dated March 9, 2000.
</TABLE>





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                                                                    EXHIBIT 99.1


                      CNET NETWORKS NAMES SHELBY BONNIE CEO

                  Founder Halsey Minor to Continue as Chairman

SAN FRANCISCO, CALIF. MARCH 9, 2000 - CNET Networks, Inc. (Nasdaq: CNET) today
announced that Vice Chairman Shelby Bonnie has been named Chief Executive
Officer, effective today. Halsey Minor, the company's founder and current CEO
will continue as Chairman. In his new role, Bonnie will take over management of
the company, while Minor will be actively involved in providing strategic
direction.

"This is a natural evolution of our company's management structure. The move
will allow me and Shelby to better align our roles, with me focusing on
long-term vision for the company, and Shelby focusing on strategy and
execution," said Minor. "We will collaborate with CNET's core management team to
continue to foster innovation throughout the organization and drive CNET's
continued growth as the world's leading technology marketplace."

Bonnie's appointment to CEO is in recognition of the outstanding job he's done
fueling CNET's growth and market leadership over the last seven years.

"As a global company with nearly 800 people and two major brands, the role of
CEO at CNET has changed," said Minor. "Shelby has the personality, passion and
commitment to lead our organization."

"Halsey had the vision and courage to build this company and we are now stronger
than we've ever been," said Bonnie. "At this stage in the company's evolution,
there is a great opportunity for me to assume management of the organization and
take it to the next level." Bonnie continued, "Over the past two years we have
created a world class management team with Rich Marino as president and Doug
Woodrum as CFO. We have built bench strength across the company and believe we
have the ideal team in place to best serve CNET's users, advertisers and
shareholders going forward."





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CNET, which Minor founded in 1992, is today the most trusted source of
information on computing and technology in the world. Using unbiased, reliable
and accurate content as its platform, CNET has built the Internet's largest B2C
marketplace linking buyers and sellers of computers and electronics products.
Through a series of strategic acquisitions and ongoing product innovation, CNET
is well-positioned to become the leading B2B marketplace for computer products,
as well as the primary provider of information powering the computer and
electronics sales and distribution channels.

"We are perfectly positioned to expand CNET's content-driven marketplace to
facilitate e-commerce across the full length of the technology supply chain. The
model we pioneered of using content to link buyers and sellers will drive our
business to new heights in 2000," said Bonnie. "CNET is dedicated to execution
throughout its businesses. I am looking forward to uniting the company around
this common goal and driving our continued commitment to revenue growth and
profitability."

Bonnie was CNET's first major investor and joined the company in 1993. He was
formerly Chief Financial Officer and Chief Operating Officer prior to being
promoted to Vice Chairman in 1999. Prior to joining CNET, Bonnie was a managing
director at Tiger Management, a New York-based investment firm. He began his
career in mergers and acquisitions at Morgan Stanley.

Bonnie received his MBA from Harvard Business School. At Harvard, he was the
winner of the Rollins Award for overall contribution to the school. Bonnie
received a BS in commerce, with distinction, from the University of Virginia.

ABOUT CNET NETWORKS, INC.
CNET Networks, Inc. is a global media company that creates content-driven
Internet marketplaces for consumers and businesses. CNET is the world's most
trusted source of information on computers, the Internet and technology serving
millions of users each day. Using unbiased content as its platform, CNET has
built the leading marketplaces for technology products, and, through its CNET
Data Services subsidiary, is the primary provider of information powering the
computer and electronics sales and distribution channels. In February 2000, CNET
acquired mySimon, the Internet's largest comparison shopping service with more
than 200 categories and over 2000 merchants. CNET also produces award-winning
content for television and radio with programs on CNBC and in national
syndication, as well as nearly 100 countries around the world. CNET currently
has investments in cash and marketable securities that are valued at more than
$1 billion, including its approximate 12 percent stake in NBC Internet, Inc.

                                      # # #

This press release includes forward-looking information and statements that are
subject to risks and uncertainties that could cause actual results to differ
materially. These statements, which are generally identified by words like
"expect", "intend", "believe" and other similar expressions, are subject to the
risk that the company's products will not achieve increased acceptance and other
risks outlined in its SEC filings, including its Form 10-K for the year-ended
December 31, 1998 and subsequent Forms 10-Q and Forms 8-K.


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