March 4 (Bloomberg) -- CBS Corp. agreed to buy Clicker Media Inc. and named that company’s chief executive officer, Jim Lanzone, to replace the departing head of CBS Interactive.
Financial terms weren’t disclosed, according to a statement today by New York-based CBS, owner of the most-watched U.S. television network. The acquisition will be completed in a “few weeks,” Dana McClintock, a CBS spokesman, said in an e-mail.
Lanzone, former CEO of Ask.com, will oversee CBS Interactive’s worldwide operations. He assumes the role held by Neil Ashe, who announced in December he would step down once a successor was chosen. Ashe is leaving two years after CBS acquired Cnet Networks, where he was CEO.
CBS, controlled by Chairman Sumner Redstone, fell 39 cents, or 1.6 percent, to $23.96 at 4 p.m. in New York Stock Exchange composite trading. The shares have climbed 26 percent this year.
Clicker.com, based in Los Angeles, has 2.5 million monthly visitors who use the service to find legally posted TV shows, movies and videos on the Web, CBS said. Lanzone, 40, will be based at CBS’s San Francisco offices.
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