CNet Keeps Family Ties

Hodgson also pointed out that "there is no implication that he was personally involved, as far as I can tell (in light of the other resignations). Of course, as the captain he has decided to go down with the sinking ship."

Going forward, it's a matter of whether the company has done enough to assure the investors and the Securities and Exchange Commission that they have fixed the problems, Post says.

"I think they'll get feedback on that very quickly - in the market price and the messages they get from institutional investors," Post says. "If this doesn't play with investors, they could retain (Bonnie) as a consultant and get him out of the governance of the company."

During the regular session, CNET shares tanked 7.7%, falling 76 cents to close at $9.14, as the company's backdating news combined with the company's announcement that it was cutting quarterly revenue guidance.. After hours, shares picked up 5 cents to $9.19.