CBS goes 'Interactive' with hire of Valley veteran

CBS has hired Silicon Valley investment professional Quincy Smith as president of its new CBS Interactive division, a revamped incarnation of its Digital Media group.

The 35-year-old Smith made a name as a tech investor, specifically working on mergers and acquisitions like Delicious' sale to Yahoo and AOL's buy of Netscape. Prior to his hire at CBS, Smith worked at the firm Allen & Company.

With the addition of Smith, announced Monday morning, CBS has replaced its Digital Media division with the new CBS Interactive. Larry Kramer, president of CBS Digital Media, has in turn stepped down from his post but will remain a presence at CBS as an adviser. Smith will now oversee CBS' digital and interactive brands, which include CBS.com, CBSNews.com, CBS SportsLine.com and the Innertube broadband channel, which recently saw a popular Web-only show, Inturn, promoted to on-air status.
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