Larry Kramer has stepped down as head of CBS’s digital media division, a post he’d held since the unit was formed 18 months ago. He’ll stay on as an advisor to the company while handing the operational reins over to Quincy Smith, a seasoned broker of new media acquisitions.
Smith has had a hand in many new media deals for CBS and other Web pioneers, including each of the big three portals. He was involved with the sale of Flickr to Yahoo, AOL’s acquisition of Advertising.com, and MTV Networks’ purchase of tween gaming site Neopets.
In his new role, Smith will craft strategies and alliances around Internet, mobile and gaming platforms, and will drive all future acquisitions. Among CBS-owned sites, CBS SportsLine.com, CBSNews.com, CBS.com and Innertube will all report to him.
Outgoing digital chief Kramer’s first contact with CBS came when he forged a joint venture between the company and Data Broadcasting Corp, where he worked. The result was CBS MarketWatch, which was later sold to Dow Jones & Co. for $463 million.
Smith reports directly to CBS chairman Les Moonves, as Kramer did.
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