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CNET Pays $70 Million for Photo Site

AP: CNET Buying Digital Photo Web Site

CNET is the latest media company to buy out an online digital photo company, purchasing Webshots, a firm that had previously been stuck in the portfolio of bankrupt ExciteAtHome for $70 million in cash and potential future payouts. ExciteAtHome paid more than $80 million for the company in 1999 and sold the assets for $2.4 million to the original owners a few years later.

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