Larry Kramer has been named president, CBS Digital Media, a newly created division encompassing all online operations and developing new media business.
Kramer, who founded Dow Jones' MarketWatch, Inc. (formerly CBS MarketWatch), will now oversee all developing new media operations for CBS, including CBS.com, CBS SportsLine.com, CBSNews.com and UPN.com, among others, as well as a new sales operation that will serve them. CBS Digital Media becomes a newly-created division, within CBS, headed by Kramer and reporting directly to Leslie Moonves, chairman, CBS and co-president/co-coo, Viacom.
"Larry brings an impressive track record of innovation, creativity and business savvy to what just might be our highest area of growth in the future," said Moonves. "Throughout his career, he's demonstrated he has what it takes to envision new enterprises and to make them profitable in the real world. In CBS SportsLine, we have one of the most successful Web destinations in the business, and CBS.com is the #1 broadcast network website. I'm confident that under Larry's leadership we will greatly expand our existing digital businesses and pursue new ventures in the video and broadband sector as well."
"By bringing all of the CBS's Internet and digital assets together, we will be able to move more quickly into creating new forms of programming and new tools for our advertisers, said Kramer. This new unit already has nearly 20 million users and is already profitable. That is a terrific foundation for the programming and advertising juggernaut we intend to create."
Kramer will work closely with Nancy Tellem, president of the CBS Paramount Network Television Entertainment Group; Sean McManus, president of CBS Sports; and Andrew Heyward, president of CBS News, each of whom has been instrumental in developing and operating the various online content destinations that serve CBS, and who will continue to be integrally involved in ongoing new media strategy and content development.
In addition, Kramer will also work with Jo Ann Ross, president of CBS Network Sales, to bring together existing online sales operations and build new resources to maximize sales opportunities for CBS in the digital space.
Kramer noted that the existing operations of CBS SportsLine and other new media properties will remain in their current locations, and will not be relocated.
Kramer, founder of MarketWatch, first proposed the creation of the joint venture between Data Broadcasting Corp. and CBS. It launched in Oct. 1997, with Kramer managing the company through its successful IPO in January 1999. He joined Data Broadcasting Corp. in 1994, following its acquisition of DataSport to run a sports and news division. There he created DBC News, which became MarketWatch, and served as vp of news, sports, & marketing for DBC.
Founder/president/exec editor of DataSport Inc. from 1991-1994, Kramer created SporTrax, a hand-held sports information monitor, launched under a marketing agreement with The Sporting News.
Prior to founding DataSport, Kramer spent more than 20 years in journalism as a reporter and editor. He started his career in 1974 as a reporter for the SAN FRANCISCO EXAMINER. In 1977, he became a financial reporter for THE WASHINGTON POST and, in 1980, the POST promoted him to exec editor of THE TRENTON (NJ) TIMES. In 1982, he returned to the POST to serve first as assistant to exec editor Benjamin C. Bradlee and later as assistant managing editor and metro editor. In 1986, he returned to the SAN FRANCISCO EXAMINER as exec editor. In 1991, he left the EXAMINER to start DataSport.
In 2000, Kramer was named to the list of the 100 most influential business journalists of the 20th Century. Kramer was a founding board member of the Online Publishers Assoc. in 2001 and has been chairman of that organization since 2003.