CBS to Centralize Digital Efforts

In an effort to better manage its online divisions as well as stay competitive with other networks in the field, CBS said Sunday that it had hired Quincy Smith to act as a overseer of the network's digital strategy. Smith had advised CBS in the past, and would look to expand the company's digital footprint.

The move is part of a bigger effort by the company to become more aggressive in the digital space. CBS parent Viacom has already fired its former CEO Tom Freston for not pursuing MySpace, and its likely Smith would be under a great deal of pressure to perform.

However, CBS CEO Les Moonves says to not expect expensive blockbuster acquisitions. "We are looking for the next YouTube and Quincy knows all the players," he told the New York Times in a telephone interview.

CBS' online properties would report to Smith, and current president of CBS Digital Media Larry Kramer would step down. Kramer will remain with the company in an advisory role.

Smith has been involved in several major technology acquisitions, include the sale of Neopets to Viacom, Loudeye's sale to Nokia, and Webshots' sale to CNET.