BOSTON CBS has named Quincy Smith president of its interactive operations. He succeeds Larry Kramer, who remains with the company as an advisor.
Smith is tasked with helping the company build and grow all facets of its digital operations across its various divisions. He will work to identify possible acquisitions in the digital space.
Smith, a well-connected investment banker and advisor to companies such as Google, will report to CBS chief executive Leslie Moonves.
Reporting to Smith are CBS wholly owned units such as CBS.com, CBSNews.com and innertube, a new site offering original programs and streaming video from network shows.
"As we continue to grow our interactive footprint and develop new revenue streams, it's important for us to have a unified strategy and seamless communication across all of our many divisions," said Moonves, in a statement. "Quincy is the perfect person to lead that charge."
Said Smith, "With unparalleled reach in television, radio, outdoor and publishing, this company has a unique, built-in advantage as it continues to transition into the interactive future. I share the vision and excitement of Leslie and his team and believe that the opportunities ahead for this company are virtually limitless."
CBS has been trying to ramp up in the interactive space, and last month struck a content and advertising deal with YouTube through which CBS and sibling cable operations Showtime and College Sports TV will provide daily short-form news, sports and entertainment clips to the Internet video distributor [Adweek Online, Oct. 9].
That marked the first distribution agreement between YouTube and a major broadcast network. YouTube and CBS will share revenue from advertising sponsorships of the content that is provided.
Smith, 35, comes to CBS from Allen & Co., where he was involved with projects including multiple transactions for Google and Advertising.com's sale to AOL.