CNET working with Joele Frank on board issues

NEW YORK: CNET Networks is working with Joele Frank, Wilkinson Brimmer Katcher on issues related to its struggle with activist investors for control of the company's board.

NEW YORK: CNET Networks is working with Joele Frank, Wilkinson Brimmer Katcher on issue related to its struggle with activist investors for control of the company's board.

CNET has worked with Joele Frank on various projects in recent years, said Sarah Cain, spokeswoman.

A group of investors led by Jana Partners disclosed in January an intent to place seven members on CNET's board. CNET has rejected the proposal by Jana, whose consortium includes Sandell Asset Management and Spark Capital.

San Francisco-based CNET's stock tumbled 5.7% Thursday after the company announced it was planning to lay off 120 US workers.

Sard Verbinnen & Co. is working with Jana on issues related to the board struggle.

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