CBS Corp. has reached an agreement to acquire CNET Networks for $11.50 per share or $1.8 billion in cash. This represents more than 40% in premium to CNET’s closing price of $7.95 Wednesday.

According to CBS, the acquisition would make the company one of the top 10 Internet companies in the U.S., with a combined 54 million unique users a month and approximately 200 million users worldwide. Upon closing of the deal this third quarter of the year, CNET Networks’ sites will be combined with CBS’s stable of dynamic and growing interactive businesses. These include CBS.com, CBSSports.com, CBSCollegeSports.com, MaxPreps.com, CBSNews.com, last.fm, Wallstrip, MobLogic, CBS Radio and CBS Television Stations digital media platforms, and the distribution network of the CBS Audience Network, which is made up of more than 300 partner web sites and reaches 82% of all online users in the United States.

Pluck Corporation is now powering social media capabilities across leading web entertainment properties, including Film.com and RollingStone.com. Attracting combined monthly audiences of more than 10 million, Film.com and RollingStone.com will use the integrated Pluck platform to further accelerate the use of social media tools by their readers.

Film.com and RollingStone.com draw savvy audiences that are accustomed to using social networks and technology across web and mobile channels. RollingStone.com is already utilizing Pluck SiteLife to power the site’s recently re-launched forums, giving the opinionated RollingStone.com audience a place to rant and rave about music, movies, and politics. Pluck SiteLife also powers the comments and recommendations on Film.com, enabling real-time conversation on movies, television, and pop culture as well as discovery modules highlighting the most popular and most commented stories for new visitors to Film.com.

Pluck SiteLife, a social media platform for recommendations, reviews, ratings, comments, blogs, photos, and videos, powers more than 1 billion social media interactions every month, and is in use by many of the world’s leading publishers, brands and retailers including USA TODAY, Scotts, Circuit City, Conde Nast and The Washington Post.

Artists, make sure to mark June 7 on your calendar this year. Coined Drawing Day, the celebration aims to push artists and illustrators to bring attention to their art by utilizing Web 2.0. The goal is quite lofty; to upload 1 million drawings in a single day.

“It’s time artists embraced social networking as a way to showcase their art,” says founder Mick Gow. “One million drawings for our first year of this event may seem hard to imagine. Artists always dream big, so are we.”

Drawings can be created via any graphics software or by simply scanning drawings created on paper. Participants then submit these drawings to one of several social networking websites listed at drawingday.org.

If you’re interested in joining a unified front designed to remind people of the joy of drawing, regardless of their artistic ability, the Website has a series of banners and buttons available to help promote the event.

Dada Entertainment, a joint venture between Dada USA, Inc. and SONY BMG Music Entertainment, has added DRM-free MP3s to its product suite. The new offering complements the full range of mobile products that Dada already makes available to its members through mobile and Web storefronts, including ringtones, mobile wallpapers and games.

Music fans who sign up for Dada are given 15 tokens per month for only $9.99. Each token can be redeemed for one download of a ringtone, or other mobile content including wallpapers and games. In addition, and as an alternative to downloading only mobile content, Dada members now have the option to download full songs in the MP3 format to their computer. These MP3 tracks can subsequently be transferred to any mobile phone, iPod or digital music player. Dada expects to be able to offer users over-the-air MP3 downloads to mobile devices in the coming months.

Clear Channel is said to be planning to add personalized web radio in its station websites and is in negotiations with Pandora. No deal has been finalized yet, though the company is gearing up for launch by the end of summer.

ClearChannel has recently launched a new song lyrics search feature on its station websites powered by Gracenote. The company has a standing agreement with Clear Channel for its websites’ social network applications.

Manhattan Media has bought 02138, a magazine for Harvard alumni, with plans of expanding into social networking and event sponsorship, the New York Times reports.

As part of the acquisition, Manhattan Media President and CEO Tom Allon also announced that the company is launching a new division, Ivy League Media, which will publish a series of like-minded magazines, web sites and social networking events targeting alumni from other Ivy League schools, beginning with Princeton and Yale in 2009, followed by Cornell, Dartmouth, University of Pennsylvania, Columbia, and Brown in 2010 and 2011.

Zoho is welcoming Google and Yahoo! users with a unified login designed to encourage those users to try Zoho applications. Now, Google and Yahoo! users can simply log into Zoho using the usernames and passwords associated with their Google and Yahoo! accounts.

Zoho makes it easy for Google and Yahoo! users to login to Zoho with the following steps:

• On Zoho’s homepage, users will see “Sign in using Google or Yahoo! account.”
• The user clicks on the link to Google or Yahoo! to reach the Google or Yahoo! login page and submits his or her username and password.
• After granting permission for Zoho to access the Google or Yahoo! account information, the user is directed to Zoho.

Liberty Media Corporation and IAC announced that they have resolved their legal dispute regarding IAC’s proposed restructuring.

Liberty has agreed to drop its appeal of the decision handed down by the Delaware Chancery Court on March 28, 2008 and will not oppose the proposed single-tier spin-offs of HSN, Interval International, Ticketmaster and Lending Tree, which IAC advanced earlier today by making its initial filings with the SEC.

Further details of the arrangement between IAC and Liberty are set forth in filings the companies make with the Securities and Exchange Commission.

“Now it’s really over and that’s great for both of us,” IAC Chairman and CEO Barry Diller said.

Billing itself as a ‘new generation exposure engine,’ Wildfeed is designed to help you share your favorite Web content.  Using a specialized community, you will be sent regular e-mails containing links of interest.  This content is selected by the editorial community and aims to ‘discover and expose creativity, innovation and expression in the digital universe.’

Participation in the editorial process is not required and subscriptions are free.  However, as an incentive, members who submit stories and bring friends under the tent, have access to a greater number of features and hold more influence over what gets published (stories that are ‘published’ get included in e-mail broadcasts.)

The name ‘wildfeed’ refers to the act of catching private video clips that may not be accessible to the public at large.

Created by a digital media pro and a social worker, the site pushes the tagline ‘freedom of expression.’

HP and EDS today announced that they have signed a definitive agreement under which HP will purchase EDS at a price of $25.00 per share, or an enterprise value of approximately $13.9 billion.

HP intends to establish a new business group, to be branded EDS – an HP company, which will be headquartered at EDS’s existing executive offices in Plano, Texas. HP plans that EDS will continue to be led after the deal closes by EDS Chairman, President and Chief Executive Officer Ronald A. Rittenmeyer, who will join HP’s executive council and report to Mark Hurd, HP’s chairman and chief executive officer.