CBS Names New Interactive Chief

NEW YORK, November 6: Quincy Smith has been named president
of CBS Corporation’s new division, CBS Interactive, overseeing the company's
interactive strategy and its implementation across CBS Corporation's various
businesses.

Reporting directly to CBS Corporation’s president and CEO,
Leslie Moonves, Smith will work with each CBS division to formulate new media
strategies and partnerships involving all interactive platforms, including
online, mobile and video gaming. His oversight will include CBS SportsLine.com,
CBSNews.com and CBS.com, as well as innertube. In addition, Smith will also
work with the financial team to identify new businesses that could complement
CBS's core assets.

"This announcement is particularly significant because
it reflects our belief that the future of media lies increasingly in the
interactive realm," said Moonves. "Quincy Smith is one of the
smartest, most forward thinking executives working in new media today. He's had
his hand in building many of the biggest interactive companies of our time, and
his knowledge of this burgeoning landscape is second to none. As we continue to
grow our interactive footprint and develop new revenue streams, it's important
for us to have a unified strategy and seamless communication across all of our
many divisions. Quincy is the perfect person to lead that charge. From the
beginning of its history, CBS has been fueled by entrepreneurs who saw the
future in new platforms, and expanded their traditional business models into
those new opportunities as they developed. With Quincy on board, I look forward
to having an ideal platform for today's technologies and services to take their
ideas to CBS first."

Larry Kramer has stepped down from his position as president
of CBS Digital Media but will remain with the company as an advisor.

Smith comes to CBS from Allen & Company, where he was
involved with projects including multiple transactions for Google,
Advertising.com's sale to AOL, the del.icio.us sale to Yahoo!, Neopets' sale to
Viacom, Loudeye's sale to Nokia and CNET's acquisition of Webshots, among other
transactions.