CNET

(CNET) - Get ChinaNet Online Holdings, Inc. Report

, which acquired

ZDNet

last July, has cut three years off its contractual relationship with

Ziff Davis Media

.

CNET and Ziff Davis said Tuesday that their former five-year agreement to share online rights to content from 11 Ziff Davis magazines will terminate on March 1, 2002. Ziff Davis will continue to provide publication and circulation services for CNET's

TheStreet Recommends

Computer Shopper

magazine for up to two years.

CNET will pay Ziff Davis an unspecified termination fee in exchange for the elimination of all royalty obligations and a $5 million annual fee owed to Ziff Davis under the

Computer Shopper

agreement.

At midday, CNET shares were up 25 cents, or 1.5%, to $16.50 in

Nasdaq

trading.