CBS Corporation Completes Acquisition of CNET Networks

Leslie Moonves, President and Chief Executive Officer, CBS Corporation has announced that the network has completed its acquisition of CNET Networks, Inc. and merged its operations into a newly expanded CBS Interactive division. The company also announced that current CBS Interactive head Quincy Smith was been named CEO of the new unit, while Neil Ashe, who led CNET, was tapped as president. "This marks day one for the new CBS Interactive," CBS president and CEO Les Moonves said in a statement. "Our unparalleled collection of sites will be an extremely powerful vehicle for advertisers to reach highly attractive demographics. At the same time, CBS Interactive will extend and leverage the power of our traditional businesses, as well as serving as a platform to launch the next generation of leading interactive properties that will play a central role in CBS' future."