CNet shares hit 52-week high on CBS deal and Smallcap Rapp(TM) to Feature TEVI

City of Industry, CA --(www.USEquityNews.com)-- 05/19/2008 - Broadcasting industry alert provided by U.S. Equity News. CNet Networks Inc. shares rose to a 52-week high recently after the company and CBS Corp. said that CBS will buy the online news and information provider for about $1.8 billion in cash. Shares of the company, whose CNet site is known for tech reviews and news, but owns Web properties including ZDNet, TV.com and GameSpot.com, rose $3.46, or 43.5 percent, to $11.41. Earlier, the shares traded as high as $11.44. In a move intended to expand CBS' Internet presence, the media and entertainment company will pay $11.50 per share for CNet -- a 45 percent premium above CNet's Wednesday closing price.


Sinclair Broadcast Group, Inc. (NASDAQ: SBGI) announced recently that its shareholders re-elected its eight Directors at the Company's Annual Shareholders' meeting held today. The re-elected Directors are: Mr. David D. Smith, Chairman of the Board, CEO and President of Sinclair; Mr. Frederick G. Smith, Vice President of Sinclair; Mr. J. Duncan Smith, Vice President and Secretary of Sinclair; Mr. Robert E. Smith, Director; Mr. Basil A. Thomas, of Counsel to the law firm of Thomas & Libowitz, P.A. and a retired Associate Judge of the Supreme Bench of Baltimore City; Mr. Lawrence E. McCanna, Managing Director of the accounting firm of Gross, Mendelsohn & Associates, P.A.; Mr. Daniel C. Keith, Founder and President of the Cavanaugh Group, Inc.; and Mr. Martin R. Leader, a retired partner of the law firm Shaw Pittman, LLP.

247MGI, Inc. (OTCBB: TOFS) ("247MGI") is pleased to announce that Smallcap Rapp(TM) will feature Boyd Soussana CEO for The Estate Vault, Inc. OTC: TEVI) Wednesday, May 21, 2008 at 1:15 PM EST and is finalizing three additional shows through May 26, 2008. The Estate Vault, Inc. was developed to overcome the daunting task of keeping financial, personal and legal documents up to date and in one place. Smallcap Rapp(TM) is a one hour live interactive show between its guests and the listening audience. Listeners can call into the show and interact LIVE with the company or they can IM or email questions to the host who will then ask the questions and the company will respond LIVE on the air.

Clear Channel Communications, Inc. (NYSE:CCU) recently announced that the company, entities sponsored by Bain Capital Partners, LLC and Thomas H. Lee Partners, L.P., and a bank syndicate consisting of Citigroup, Deutsche Bank, Morgan Stanley, Credit Suisse, Royal Bank of Scotland and Wachovia, have entered into a settlement agreement in connection with the lawsuits previously filed in the Supreme Court of the State of New York and the State Court in Bexar County, Texas. Pursuant to the terms of the settlement agreement, the parties have agreed to enter into a third amendment to the previously-announced merger agreement. Under the terms of the merger agreement, as amended, Clear Channel shareholders will receive $36.00 in cash for each share they own.

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