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JANA can nominate members to CNET's board -court

Thu Mar 13, 2008 10:19pm IST
 
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SAN FRANCISCO, March 13 (Reuters) - Hedge fund JANA Partners LLC, which is trying to take control of the board of CNET Networks Inc's CNET.O board, said on Thursday a court upheld its right to nominate seven directors to the board of the U.S. online media company.

CNET said in January that the efforts of a group of activist investors led by JANA Partners to nominate two directors to its board and expand the board by five members were "improper" under its bylaws.

JANA took the matter to the Delaware Court of Chancery, challenging CNET's interpretation of its bylaws. (Reporting by Anupreeta Das; Editing by Tim Dobbyn)

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