MUMBAI: Media conglomerate Viacom has announced that Larry Kramer has been named CBS Digital Media president. Kramer, who founded Dow Jones’ MarketWatch will now oversee all developing new media operations for US broadcaster CBS. They include CBS.com, CBS SportsLine.com, CBSNews.com and UPN.com, among others, as well as a new sales operation that will serve them.

CBS Digital Media becomes a newly-created division within CBS headed by Kramer. He reports directly to Viacom co-COO Moonves. Moonves said, “Larry brings an impressive track record of innovation, creativity and business savvy to what just might be our highest area of growth in the future. Throughout his career, he’s demonstrated he has what it takes to envision new enterprises and to make them profitable in the real world.

"In CBS SportsLine, we have one of the most successful Web destinations in the business, and CBS.com is the number one broadcast network website. I am confident that under Larry’s leadership we will greatly expand our existing digital businesses and pursue new ventures in the video and broadband sector as well.”

According to Kramer, “This is an exciting opportunity to launch an entrepreneurial enterprise within a company that is home to some of the strongest brands in all of media. By bringing all of the CBS’s Internet and digital assets together, we will be able to move more quickly into creating new forms of programming and new tools for our advertisers. This new unit already has nearly 20 million users and is already profitable. That is a terrific foundation for the programming and advertising juggernaut we intend to create.”

As he incorporates existing digital and new media operations into this new CBS division, Kramer will work closely with CBS Paramount Network Television Entertainment Group president Nancy Tellem, CBS Sports president Sean McManus, and CBS News president Andrew Heyward. They have been instrumental in developing and operating the various online content destinations that serve the company, and who will continue to be integrally involved in ongoing new media strategy and content development.