Networks typically trot out corporate executives, stars and programmers for pitching to advertisers during the TV industry’s annual upfront season. CBS showcased Quincy Smith, a deal maker and the president of CBS Interactive, who hogged the limelight at Carnegie Hall on Wednesday (May 14).

“We possess the most content online of any network,” he declared. It now has more. CBS announced On Thursday a $1.8 billion deal to purchase the online media brand CNet Networks - home of sites, such as CNet.com (on technology), BNet (on business), TV.com (on television), CHOW (on cooking) and GameSpot (on video games).

CBS has been snapping up small sites in the last year or so, comprising Last.fm, a music site it acquired for about $280 million, according to regulatory filings. It also bought Wallstrip that makes irreverent financial-themed Web videos, and also DotSpotter, a celebrity gossip web site.

CBS is paying rather handsomely for CNet’s built-in audience, mentions an analyst for Forrester Research, James McQuivey. With a purchase price at around 18 times earnings before depreciation and other non-cash expenses, the acquisition price puts CNet in line with other recent similar Internet deals.