Larry Kramer out as President of CBS Digital Media

Steve Safran November 6th, 2006

CBS is dropping Larry Kramer as President of Digital Media and replacing him with a money man. Investment banker Quincy Smith will take the job of president of a new CBS Interactive division, reporting to CBS Pres/CEO Les Moonves. Kramer only held the job for 18 months, and the move is seen as a possible shift in CBS strategy to acquisition mode for smaller digital properties. Kramer, who founded MarketWatch, will stay on in an advisory capacity. Smith has a background in VC and investor relations. Is CBS trying to “pull a Fox” and start buying up web companies? (Thanks, Lane)