CBS Boosts Online Content Efforts

NEW YORK, May 23: CBS Corporation’s CBS Interactive division
has acquired Wallstrip, an online
property that produces and syndicates a daily online show focused on financial
news.

The Wallstrip team
will work with CBS Interactive to build original web and mobile-based content. As
part of the acquisition, Wallstrip
writers and producers Adam Elend and Jeff Marks will executive produce original
video content for CBS Interactive and Lindsay Campbell will continue as host of
the program. Wallstrip creator
Howard Lindzon will take on an active consultant role for the
division.

"CBS recognizes that original web content—whether
it’s news, sports or entertainment—is starting to show real traction with
audiences, producers and advertisers," said Quincy Smith, the president of
CBS Interactive. "As CBS evolves from a content company into an audience
company, we need to build a team of talented web producers who ‘get’ the
growing online demand."

In the six months since it launched, Wallstrip has secured syndication for its daily content
through properties such as YouTube, Veoh, Blip.tv, iTunes, Yahoo! Podcasts,
Google Finance, TheStreet.com, AOL Uncut, vSocial and Revver. "CBS is a
great match for Wallstrip,"
said Lindzon. "The CBS Interactive team is committed to growing the
property and expanding the programming while keeping true to the core product.
We have a lot of room to grow inside of the financial news vertical and CBS
will help us get there faster.”