EXHIBIT 10.1

July 1, 2003

Arthur Fatumc/o CNET
Networks, Inc.235 Second StreetSan Francisco, CA 94105

Dear Art:

As we discussed, effective August 1,
2003, your current position is being eliminated. This Letter of Understanding confirms our
discussions with you concerning the end of your employment with CNET Networks, Inc. (the
Company, CNET) and outlines the arrangements made to provide
severance benefits for you. The full regular severance benefits described below are being
provided under your agreement with the company dated October 17, 2000.

Full Regular Severance
(No General Release Required)

|1. | Your final day of full-time employment with the Company will be August 1, 2003,
          your job end date.
|-- | ------------------------------------------------------------------------------------------------------------

|2. | You will receive your final payroll check which contains regular salary payment
          through your end date as well as any unused accrued vacation; additionally, you
          will be entitled to receive regular severance of 52 weeks of pay, or
          $291,200.00, less deductions as required by law. You are not required to sign a
          general release in order to receive this severance payment.
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|3. | All benefits coverage will end at the end of the month in which you leave
          employment with the Company. Under COBRA, you will be entitled to extend your
          health care coverage for up to 18 months by paying the full cost of coverage
          plus a 2% administrative charge. Details regarding your COBRA eligibility and
          enrollment will be sent to you by Colt Express, approximately two weeks after
          your coverage ends. When you receive this notification, please follow the
          instructions to make your election; you will have 60 days from the later of: 1)
          the date you lose coverage as an active employee or 2) the date on the COBRA
          official document to elect COBRA continuation insurance. You then have an
          additional 45 days in which to pay your first months premium. If you make
          your election and pay the premium within these timeframes, your coverage will be
          reinstated back to your termination date. PLEASE NOTE: your coverage will be
          cancelled with the insurance carriers on the last day of the month after you
          leave CNET. If you elect COBRA, your coverage will not be reinstated
          (retroactively back to the 1st of the month following your termination date)
          until Colt Express receives your first premium payment. Refer to the When
          You Leave CNET, CNET Benefit Information memo for further information
          about COBRA.
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | You
also may elect to convert your life insurance to an individual policy by contacting the
Corporate Benefits Department within 31 days of your termination date.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4. | CNET Networks, Inc. 401(k) Plan  within two weeks after your termination
          date, New York Life Benefit Services will send you a distribution package. If
          you dont receive it within three weeks after your termination date, you
          can request a distribution package online at http://www.bcomplete.com (forms
          request page) or call New York Life Benefit Services at 1-800-294-3575. New York
          Life Benefit Services will receive the completed paperwork and handle the
          distribution/rollover. Please note: all distributions/rollovers cannot occur
          until 20 days after your termination date. Refer to the When You Leave
          CNET, CNET Benefit Information memo for further information.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|5. | In connection with the Companys stock options, all vested options will
          remain exercisable within 90 days following your job end date. If you do not
          exercise your options within that 90-day period, they will be forfeited. AST is
          our stock plan administrator. AST can be reached between 9:00 a.m. and 7:00 p.m.
          EST at 888-980-6456 or at www.aststockplan.com. AST will be able to help you
          with all aspects of exercising your options or with any questions you may have.
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|6. | The Companys policy on providing references for former employees is to
          disclose only the dates of employment and the title of the last position held.
          If you authorize disclosure in writing, the Company will also provide
          information on the amount of the salary or wage you last earned. All requests
          for references should be directed to the Human Resources Department.
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|7. | You should return all Company equipment (unless authorized by the CEO to
          continue using such equipment) or other Company property by the close of
          business on August 1, 2003. All documentation for any outstanding expenses that
          would be reimbursable under the Companys regular policy should be
          submitted by August 1, 2003.
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|8. | Because your job is being eliminated, you are entitled to apply for unemployment
          insurance benefits and the Company agrees not to contest your application,
          provided that you are otherwise eligible for such benefits in accordance with
          state law.
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Full Enhanced Severance
(General Release Required)

|1. | Upon signing the attached General Release, you will receive an enhanced
          severance of $120,977 less deductions as required by law. Included in this
          payment are your 2003 incentive at target ($100,000) and a payment to cover
          COBRA expenses for 11 months ($20,977).
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|2. | In addition, upon signing the General Release, you will be allowed to use an
          office in CNETs San Francisco headquarters building for up to a 12 month
          period (or until employed at another company if that occurs earlier) with the
          understanding that no administrative or clerical assistance is being provided;
          long distance telephone charges in excess of $50 per month will be paid by you ;
          you may use the Companys email system but otherwise you will have limited
          access to the Companys network; the restrictions on using confidential and
          proprietary information continue to apply as if you were a CNET employee; and
          you may not engage in any activity adverse to the Companys interests,
          including but not limited to soliciting CNET customers and recruiting CNET
          employees, it being understood that the foregoing shall not preclude you from
          seeking or accepting employment with a competitor of CNET provided that the
          acceptance of or engagement in such employment does not otherwise violate any
          law or agreement between you and the Company You also agree that you will not
          use any CNET office or other assets to conduct business or to perform services
          for a new employer, without CNETs express consent. Furthermore, the CEO
          agrees to provide a mutually agreed upon reference for you as you seek
          employment outside of the Company. Finally, you shall have the right to purchase
          the laptop computer currently used by you for an amount no greater than the
          depreciated value of such computer as reflected in the Companys financial
          records, it being understood that the data and applications on the computer will
          be removed in accordance with standard Company policy.
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|3. | The enhanced portions of this severance package are contingent on your signing
          the enclosed General Release and agreeing to the following terms:
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------

|a) | You agree to keep confidential all the terms of this Letter of Understanding and
          General Release, and you agree not to use or disclose them to any third party,
          except as may be required by law or in confidence to your attorney or tax
          advisor.
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|b) | You acknowledge that you are in possession of confidential and proprietary
          information belonging to the Company and it affiliates, and you agree not to
          disclose any such information to anyone without the Companys written
          approval, except as compelled by law, in which case you will, if reasonably
          practicable, give us prior notice and cooperate with us, at our expense and to
          the extent permitted by law, if we seek a protective order against such
          disclosure.
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|c) | You agree not to disparage the Company, its affiliates, or their respective
          officers, directors, employees and representatives at any time in the future.
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------

|d) | You agree that should you accept and begin re-employment at the company or one
          of its affiliates as a regular full-time employee at a comparable or better
          salary level than the CCO position you are leaving after August 1, 2003 but
          before August 1, 2004 you will owe the Company the pro-rated unused
          after-tax portion of your enhanced severance.
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|e) | This Letter of Understanding (and if you agree to the enhanced severance, the
          enclosed General Release), constitute the entire understanding and agreement
          between you and the Company or its affiliates, relating to your employment and
          its termination, and they supersede any and all prior agreements or
          understandings on such matters. No representations or promises were made which
          are not included in the Letter of Understanding.
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Please take your time to read this
agreement carefully and seek legal or other counsel if you wish. If you wish to accept the
full regular severance offer, please acknowledge your agreement by signing the signature
line provided below headed Full Regular Severance. If you wish to accept the full enhanced
severance offer and the General Release, please acknowledge your agreement by signing the
second signature line provided below, headed Full Enhanced Severance, and sign the
enclosed General Release.

Please return the original documents
to your HR representative by 9:00 a.m. Pacific time and 12:00 noon Eastern time no earlier
than 8 days prior to your job end date.

Please understand that regardless of
which option you select, if you engage in willful misconduct at any time before your job
end date you will forfeit all severance benefits and options described in this letter.

Art, we wish you the best of luck in
your future career pursuits.

Sincerely,

Shelby Bonnie

Chairman and CEO, CNET
Networks, Inc.

---

Full Regular Severance

I acknowledge that I have had the
opportunity to review this agreement as well as to seek legal counsel and that I
understand the terms of the two severance offers. I have decided to accept the full
regular severance offer only; I am declining the full enhanced severance offer.

---

Full Enhanced Severance

I acknowledge that I have had the
opportunity to review this agreement as well as to seek legal counsel and that I
understand the terms of the two severance offers. I have voluntarily agreed to accept the
full regular severance and the full enhanced severance offer, including the General
Release, which I will sign and return to Human Resources.

| |  | Dated:  July 24, 2003/S/ Art Fatum
| |  | ------------------------------------------------

AGREEMENT, RELEASE AND
COVENANT NOT TO SUE

CNET
Networks, Inc. (CNET or the Company) and Arthur Fatum have reached
a mutual understanding, compromise and agreement regarding Employees termination of
employment. In consideration for the execution of this Agreement, the parties agree as
follows:

1.       
          Employees employment with CNET will terminate effective August 1, 2003.
          Employees salary and benefits will end on that date, except for
          medical/dental coverage which will continue through the end of August 2003.

2.       
          In exchange for Employees entering into this Agreement, Release and
          Covenant Not To Sue (Agreement or Release), CNET will
          provide to Employee the Enhanced Severance benefits more fully described in the
          Letter of Understanding dated June 24, 2003 between CNET Networks, Inc. and
          Employee. These enhanced severance benefits will be provided to the Employee
          within fifteen (15) days following Employees execution and return of this
          Agreement to the Company, provided that Employee has not exercised the right of
          revocation set forth in paragraph 9(E). Employment and income taxes and other
          required withholdings shall be deducted in accordance with the Plan.

3.       
          In further consideration of this Agreement, Employee agrees for himself, and
          Employees heirs, dependents, successors and assigns to fully and
          completely waive, release and discharge, to the maximum extent allowed by law,
          CNET and any and all of its past and present parent corporations, subsidiaries,
          divisions, subdivisions, affiliates and related companies and their successors
          and assigns (including but not limited to ZDNet, mySimon and TechRepublic), and
          all past and present directors, officers, partners, proprietors, fiduciaries and
          employees (all parties referred to in the foregoing are hereinafter referred to
          as the Releasees) from any past, or existing obligation, whether
          legal or equitable in nature which Employee may have as of the date of this
          Agreement.

Employee
further agrees to the maximum extent allowed by law to waive, compromise, release, settle,
discharge and covenant not to sue or bring any legal or administrative action or
proceeding whatsoever against CNET and Releasees for any claim of any nature whatsoever
related to employment or benefits or Employees termination from employment,
including, but not limited to, any claim for wrongful discharge or breach of contract or
any claims arising under the Age Discrimination in Employment Act of 1967, Title VII of
the Civil Rights Act of 1964, the Employee Retirement Income Security Act of 1974, the
Americans with Disabilities Act of 1990, the Family Medical Leave Act of 1993, the Worker
Adjustment and Retraining Notification Act (WARN), any state or local statute or
regulation including employment discrimination statutes, or any other claims arising out
of Employees employment at CNET or the termination of Employees employment
with the Company which Employee may have as of the date of this Agreement. Notwithstanding
the foregoing, Employee shall be entitled to bring legal or other action to enforce
employees rights under the Letter of Understanding in accordance with CNETs
ADR policy.

4.       
          The obligations stated in this Agreement are intended as full and complete
          satisfaction of any and all claims Employee now has or had in the past. By
          signing this Agreement, Employee expressly represents that he has made
          reasonable effort to fully apprise himself of the nature and consequences of
          this Agreement, and that he understands that if any facts with respect to any
          matter covered by this Agreement are found to be different from the facts which
          Employee now believes to be true, Employee accepts and assumes that risk and
          agrees that this Agreement shall be effective notwithstanding such differences.
          Employee expressly agrees that this Agreement shall extend and apply to all
          unknown, unsuspected and unanticipated injuries and/or damages. By signing this
          Agreement Employee also expressly waives any benefit of California Civil Code
          section 1542 (or any similar state statute that may apply). California Civil
          Code section 1542 provides as follows:

| | A
general release does not extend to claims which the creditor does not know or suspect to
exist in his favor at the time of executing the release, which if known by him must have
materially affected his settlement with the debtor.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

5.       
          Employee states that he has read this Agreement and fully understands the
          meaning of its contents and that he has been advised to seek advice from legal
          counsel.

6.       
          As part of this Agreement, Employee agrees to indemnify and hold CNET and its
          releasees harmless from any losses, damages or costs that may arise from a
          breach by Employee of any of the obligations of this Agreement, such
          indemnification obligation to include reasonable attorneys fees and all
          incidental costs and expenses.

7.       
          Employee represents and warrants that no person or entity has had nor has, any
          interest in any sums of money which may be paid pursuant to the provisions of
          this Agreement and that Employee has the sole right to execute this Agreement
          and the sole right to receive the sums mentioned above.

8.       
          This Agreement is executed without reliance upon any representation except as
          expressly stated herein. Any oral representations or modifications concerning
          this Agreement or its subject matter shall be or no force or effect. This
          Agreement may be modified only in writing and signed by all of the parties.

9.       
          Employee understands and agrees that he:

| | A. | Knowingly and voluntarily agrees to all of the terms set forth in this
          Agreement;
| | -- | -------------------------------------------------------------------------------------------

| | B. | Knowingly and voluntarily intends to be legally bound by the same;
| | -- | ------------------------------------------------------------------

| | C. | Has had the opportunity to take a full twenty-one (21) days within which to
          consider this Agreement before executing it;
| | -- | ----------------------------------------------------------------------------------------------------------------------------------

| | D. | Understands that among the possible claims Employee is waiving pursuant to this
          Agreement are any and all claims for age discrimination under the Age
          Discrimination in Employment Act of 1967;
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | E. | Has a full seven (7) days following the execution of this Agreement to revoke
          this Agreement and has been and hereby is advised in writing that this Agreement
          shall not become effective or enforceable until the revocation period has
          expired;
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | F. | Understands that rights or claims under the Age Discrimination in Employment Act
          of 1967 that may arise after the date of this Agreement is executed are not
          waived.
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

10.       
          Provided that Employee does not exercise his/her right to revoke the Agreement,
          the effective date of this Agreement will be the eighth day following the later
          of the Employees Termination Date or execution of this Agreement.

11.       
          This Agreement shall be construed and enforced, to the extent not superseded by
          federal law, in accordance with the laws of the State of California.

| |  | CNET NETWORKS, INC.BY: /S/ Heather McGaughey/S/ Art Fatum
Dated:   July 24, 2003
| |  | ------------------------------------------------------------------------------------------------------------