SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
CNET Networks, Inc.
---------------------------------------------------------
(Name of Issuer)
Common Stock, $0.0001 par value
---------------------------------------------------------
(Title of Class of Securities)
125 945 10 5
-----------------------------------
(CUSIP Number)
East Peak Partners, L.P.
101 California Street, Suite 4050
San Francisco, CA 94111
(415) 675-3200
with a copy to:
Phillip Gordon
Altheimer & Gray
10 South Wacker Drive
Chicago, Illinois 60606
(312) 715-4000
-------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 28, 2003
------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this
Schedule 13D, and is filing this Schedule because of Rule 13d-
1(b)(3) or (4), check the following box. / /
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in
a prior cover page.
The information required on the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18
of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No.: 125 945 10 5
---------------------------------------------------------
1. Name of Reporting Person:
East Peak Partners, L.P.
---------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group:
(a) / /
(b) /X/
---------------------------------------------------------
3. SEC Use Only
---------------------------------------------------------
4. Source of Funds:
WC
---------------------------------------------------------
5. Check box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(e) or 2(f):
/ /
---------------------------------------------------------
6. Citizenship or Place of Organization: California
------------------------------------------
Number of 7. Sole Voting Power: 5,750,000
Shares ------------------------------------------
Beneficially 8. Shared Voting Power: 0
Owned By ------------------------------------------
Each 9. Sole Dispositive Power: 5,750,000
Reporting ------------------------------------------
Person 10. Shared Dispositive Power: 0
With
---------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each
Reporting Person:
5,750,000
---------------------------------------------------------
12. Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares:
/ /
---------------------------------------------------------
13. Percent of Class Represented by Amount
in Row (11): 4.1%
---------------------------------------------------------
14. Type of Reporting Person: PN
---------------------------------------------------------
Power is exercised through East Peak Partners, L.P.'s sole
general partner JGE Capital Management, LLC.
CUSIP No.: 125 945 10 5
---------------------------------------------------------
1. Name of Reporting Person:
JGE Capital Management, LLC
---------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group:
(a) / /
(b) /X/
---------------------------------------------------------
3. SEC Use Only
---------------------------------------------------------
4. Source of Funds:
WC
---------------------------------------------------------
5. Check box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(e) or 2(f):
/ /
---------------------------------------------------------
6. Citizenship or Place of Organization: California
------------------------------------------
Number of 7. Sole Voting Power: 5,750,000
Shares ------------------------------------------
Beneficially 8. Shared Voting Power: 0
Owned By ------------------------------------------
Each 9. Sole Dispositive Power: 5,750,000
Reporting ------------------------------------------
Person 10. Shared Dispositive Power: 0
With
---------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each
Reporting Person:
5,750,000
---------------------------------------------------------
12. Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares:
/ /
---------------------------------------------------------
13. Percent of Class Represented by Amount
in Row (11): 4.1%
---------------------------------------------------------
14. Type of Reporting Person: CO
---------------------------------------------------------
Solely in its capacity as the general partner of East Peak
Partners, L.P.
Power is exercised by JGE Capital Management, LLC's President and
Principal, Jeffrey G. Edwards.
CUSIP No.: 125 945 10 5
---------------------------------------------------------
1. Name of Reporting Person:
Jeffrey G. Edwards
---------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group:
(a) / /
(b) /X/
---------------------------------------------------------
3. SEC Use Only
---------------------------------------------------------
4. Source of Funds: WC
---------------------------------------------------------
5. Check box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(e) or 2(f):
/ /
---------------------------------------------------------
6. Citizenship or Place of Organization: USA
------------------------------------------
Number of 7. Sole Voting Power: 5,750,000
Shares ------------------------------------------
Beneficially 8. Shared Voting Power: 0
Owned By ------------------------------------------
Each 9. Sole Dispositive Power: 5,750,000
Reporting ------------------------------------------
Person 10. Shared Dispositive Power: 0
With
---------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each
Reporting Person:
5,750,000
---------------------------------------------------------
12. Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares:
/ /
---------------------------------------------------------
13. Percent of Class Represented by Amount
in Row (11): 4.1%
---------------------------------------------------------
14. Type of Reporting Person: IN
---------------------------------------------------------
Solely in his capacity as the President and Principal of JGE
Capital LLC.
This Statement constitutes Amendment No. 1 to Statement on
Schedule 13D (the "Original Schedule 13D") filed with the
Securities and Exchange Commission ("SEC") on October 17, 2002.
Unless otherwise stated herein, the Original Schedule 13D, as
previously amended, remains in full force and effect. Terms used
herein and not defined herein shall have the meanings ascribed
thereto in the Original Schedule 13D.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended and restated as follows:
(a)-(b) Percentage interest calculations for each of the
Reporting Persons are based on the Issuer having 139,341,917
shares of Common Stock outstanding as of April 30, 2003, as
reported in the Issuer's 10-Q filed for the quarter period ended
March 31, 2003, filed with the Securities and Exchange Commission
on May 6, 2003.
East Peak
The aggregate number of Shares that East Peak owns
beneficially pursuant to Rule 13d-3 of the Act, is 5,750,000
Shares, which constitutes approximately 4.1% of the
outstanding shares of Common Stock.
JGE Capital
Because of its position as the sole general partner of East
Peak, JGE Capital may, pursuant to Rule 13d-3 of the Act, be
deemed to be beneficial owner of 5,750,000 Shares, which
constitutes approximately 4.1% of the outstanding shares of
Common Stock.
Edwards
Because of his position as the control person of JGE
Capital, Mr. Edwards may, pursuant to Rule 13d-3 of the Act, be
deemed to be beneficial owner of 5,750,000 Shares, which
constitutes approximately 4.1% of the outstanding shares of
Common Stock .
(c) During the past sixty (60) days, East Peak has sold
in open market transactions on the National Association of
Securities Dealers Automated Quotation System (Nasdaq) shares of
Common Stock as set forth in Schedule I attached hereto.
Except as set forth in this paragraph (c), to the best of
the knowledge of each of the Reporting Persons, none of the
persons named in response to paragraph (a) has effected any
transaction in shares of the Common Stock during the past
sixty (60) days.
(d) Each of the Reporting Persons affirms that no person
other than such Reporting Person has the right to receive or the
power to direct the receipt of dividends from, or the proceeds
from the sale of the shares owned by such Reporting Person.
(e) The Reporting Persons ceased to be the owners of more
than five percent (5%) of the outstanding shares of Common Stock
on May 5, 2003.
Item 7. Material to be Filed as Exhibits.
Exhibit Document Description
A Agreement Pursuant to Rule 13d-1 (k) (1) (iii)
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.
DATED: May 28, 2003
EAST PEAK PARTNERS, L.P.
By: JGE CAPITAL MANAGEMENT, LLC
Its: General Partner
By: /s/ Jeffrey G. Edwards
----------------------
Jeffrey G. Edwards
Its: Principal
JGE CAPITAL MANAGEMENT, LLC
By: /s/ Jeffrey G. Edwards
----------------------
Jeffrey G. Edwards
Its: Principal
/s/ Jeffrey G. Edwards
----------------------
Jeffrey G. Edwards
SCHEDULE I TO SCHEDULE 13D FOR
EAST PEAK PARTNERS, L.P.
Date of Number Price
Reporting Trans- Type of Per Where/How
Person action Shares Share Transaction
($) Effected
East Peak 05/05/2003 Sell 605,000 $4.10 Open
Market/Broker
East Peak 05/12/2003 Sell 500,000 $3.87 Open
Market/Broker
East Peak 05/28/2003 Sell 150,000 $5.22 Open
Market/Broker
EXHIBIT A
Pursuant to Rule 13d-1(k) (1) (iii) of Regulation 13D-G of
the General Rules and Regulations of the Securities and Exchange
Commission under the Securities Exchange Act of 1934, as amended,
the undersigned agree that the statement to which this Exhibit is
attached is filed on behalf of each of them in the capacities set
forth herein below.
DATED: May 28, 2003
EAST PEAK PARTNERS, L.P.
By: JGE CAPITAL MANAGEMENT, LLC
Its: General Partner
By: /s/ Jeffrey G. Edwards
----------------------
Jeffrey G. Edwards
Its: Principal
JGE CAPITAL MANAGEMENT, LLC
By: /s/ Jeffrey G. Edwards
----------------------
Jeffrey G. Edwards
Its: Principal
/s/ Jeffrey G. Edwards
----------------------
Jeffrey G. Edwards