CBS to Buy Clicker Media, Names CEO Lanzone to Lead Interactive Division
CBS Corp. (CBS) 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 of the purchase weren’t disclosed, according to a statement today by New York-based CBS, owner of the most-watched U.S. television network.
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 67 cents, or 2.8 percent, to $23.68 at 12:13 p.m. in New York Stock Exchange composite trading. The shares had climbed 28 percent this year before today.
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 will be based at CBS’s San Francisco offices.
To contact the reporter on this story: Andrew Fixmer in Los Angeles at firstname.lastname@example.org
To contact the editor responsible for this story: Anthony Palazzo at email@example.com