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CBS and CNET Network has sealed an acquisition agreement that could probably be the next biggest acquisition deal after the failed Microsoft-Yahoo deal. Although the price involved in this acquisition is not as big as the Microsoft-Yahoo deal, the fact is both CBS and CNET Network own some of the most popular internet properties and combining them would elevate CBS into the ranks of the 10 most popular Internet companies in the US.

For a purchase price of $11.50 per share, CBS hopes to acquire CNET Networks by the close of the third quarter this year. Luckily for them, the CNET Board has unanimously approved the proposed deal valued at $1.8 billion.

This deal would certainly be most favorable to CBS, since if you combined the unique visitors of its Internet properties with that of CNET Networks, the company would gain around 54 million unique users per month, with a total of around 200 million users worldwide. This is certainly not a bad deal at all for both companies.

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UPDATE: If you haven’t heard yet, CNET Editor James Kim was found deceased yesterday after nearly 11 days in the middle of nowhere in the freezing cold.  Kim was a hero - risking his life to save his wife and two kids.  He succeeded in keeping his family alive, but did not make it himself.  CNET has published a Memoriam article about Kim entitled “James Kim--family man, gadget fan” with quotes from his co-workers and friends.

To donate to his family, head over to their website found at jamesandkati.com.

You can also express your condolences over at CNET by clicking here.

James Kim went on a road trip with his family last week to the Pacific Northwest, and hasn’t been heard from since.  CNET is asking for your prayers and any help you can provide.  If you know anything, please contact the authorities immediately.

Those with information about the Kim family’s whereabouts are asked to contact San Francisco police immediately at 415-558-5508 during normal business hours and at 415-553-1071 after-hours. The Portland Police Bureau’s Missing Persons Unit can be reached at 503-823-0446.

The police have narrowed their search to “Oregon’s Highway 38 as the family’s most probable route to their destination of Gold Beach.” Our thoughts and prayers are with them.

Update: James Kim’s wife and two daughter have been found “alive and well” after a week of being stranded in Southern Oregan, but James has still yet to be recovered.  He is said to have left his family on Saturday to seek help, and is still out there.  Police are expected to use search dogs, helicopters, night vision, etc to recover the CNET Editor.  Keep on praying for James.

Read [Crave]

Today is all about connectivity on the net, and with all kinds of websites to do it; everyone can find their medium. The most recent mediums to sweep the nation have been blogs, and now “viral videos.” Websites are flooding the internet with home videos and clips ripped off of the small and silver screens. With the likes of YouTube and MySpace receiving hordes of new faithfuls each day, we’ll soon be seeing a category for Best Viral Video in some awards ceremony. Strangely enough, the viral video is only getting recognition now, despite how many episodes of America’s Funniest Videos have been made. Poor Saget, if only his time was a little more ahead of the curve.

Seemingly enough, everyone is trying to get into the act. MySpace, known for its millions of mirror photos, now has a full library of viral videos donated by users. Even the net’s favorite freeware site, Download.com has gotten into the act with its own section strictly for virals. If you ever get the chance, I advise you watch “Ninja for Hire” or “The Real Simpson’s.” It’s proof of what astonishing acts some people will do for attention, no matter their medium.