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CBS Corporation
(NYSE: CBS and CBS.A) announced today the establishment of the CBS Interactive
Music Group.  The new business unit within
CBS Interactive brings together the Company’s industry-leading digital music
assets, including CBS RADIO’s more than 100 music websites and online audio
streams, and its various mobile applications, as well as Last.fm, a leading
music discovery site, to form a single division that will create richer and
more immersive experiences for millions of music fans around the world.  At launch, the combined assets of the newly
formed CBS Interactive Music Group reach almost 40 million unique monthly users
worldwide[1].
 
           

Leading
the new entity will be David Goodman who has been named President, CBS
Interactive Music Group.  A veteran of
CBS RADIO since 2002, Goodman has served as President, Digital Media and
Integrated Marketing for the division since December 2007.
 
           

The
announcements were made by Leslie Moonves, President and Chief Executive
Officer, CBS Corporation.
 

“Today we are combining
two industry-leading music properties to form a single group dedicated to music
fans everywhere,” said Moonves.  “CBS is
in a unique position to bring together the leading-edge technological resources
at CBS Interactive with the content, promotional and sales assets at CBS RADIO
to drive efficiencies into the business and create unmatched experiences for
all of our customers.  David is uniquely
qualified to lead our efforts in the area, and I look forward to all he’ll do
to grow this new enterprise.”
 

At launch, the
new CBS Interactive music group will be comprised of the following:
           
·       
CBS RADIO streams of its music stations, and web
only channels, available online and via various mobile devices, including the
iPhone and select Blackberry models;

·       
The interactive websites for every CBS RADIO music
station which offer extensive audio and video programming on-demand, embeddable
song dedication and upcoming event widgets, and exclusive opportunities and
promotions;

·       
Last.fm, a leading music discovery site, offers
fans millions of tracks in every genre with radio streaming and free-on-demand
offerings through partnerships with Universal, EMI, Sony BMG, CD Baby,
independent aggregators The Orchard and IODA, and more than 240,000 independent
artists and labels. The site also intelligently recommends its 25 million
monthly users new songs based on their listening history and music tastes
through its proprietary scrobbling technology.
 

 “CBS RADIO and
CBS Interactive have been moving down parallel paths to create a new media
structure for the future that capitalizes on our unique strengths,” added
Quincy Smith, Chief Executive Officer, CBS Interactive.  “The time is right to create a focused
strategy that brings together the knowledge and expertise of both divisions so
we can realize our true potential.”

The CBS
Interactive Music Group will complement CBS Interactive’s four additional
business units primarily focused on Technology and News; Business; Sports and
Games; and Entertainment and Lifestyle. 
Neil Ashe serves as President of CBS Interactive.  Goodman will report to Ashe and continue to
work closely with Dan Mason, President and Chief Executive Officer, CBS RADIO,
to implement and monetize the division’s ongoing digital initiatives.  Goodman will continue to be based at CBS
RADIO headquarters in New York.
 
           

“The
unparalleled technology and operations expertise of CBS Interactive, combined
with the power of CBS RADIO and Last.fm, allows this newly created vertical to
develop best-of-breed sites and user experiences, and gives us a unique
competitive advantage in the marketplace – not only with our worldwide
audiences but with the advertising community as well,” said Ashe.
 

CBS RADIO’s
recent agreements to power AOL Radio and Yahoo! LAUNCHcast Radio’s combined
400+ stations have vaulted CBS RADIO to the No. 1 most listened to online radio
service.  In March, CBS RADIO logged more
than 6.5 million unique listeners who streamed in excess of 83 million total
listening hours. The division is also home to the nation’s most listened to
rock (KROQ-FM), country (WUSN-FM) and classic hits (WCBS-FM) stations, as well
as some of the best music brands in the business, such as WXRT-FM in Chicago, Alice@97.3 (KLLC-FM) in San
Francisco, WVEE-FM in Atlanta, B94
in Pittsburgh, and the recently launched AMP
RADIO (KLSX-FM) in Los Angeles.
  

“David and his team have crafted an
intelligent long-term digital strategy for CBS RADIO and provided our
properties with resources and tools local radio stations could never have
imagined would be in their arsenal,” said Mason.  “Our stations are better equipped than any of
their competitors at delivering music enthusiasts a fully interactive on-air
and online user experience.  With the
power of CBS Interactive behind our efforts we will only get better.  No other radio company has the caliber of
resources of CBS and no other interactive company can own local radio like we
do.”
 
           

“By
forming the CBS Interactive Music Group, we are able to create richer content
experiences, deeper targeted advertising opportunities driven by experts in
local and national sales, increases in overall audience and time spent with our
brands, as well as implement common operating systems and shared technology
resources to realize cost efficiencies,” commented Goodman.
 

Goodman joined
CBS RADIO in July 2002 as Executive Vice President of Marketing where he played
a pivotal role in developing multi-dimensional radio platforms for major
clients. He was promoted to President of Marketing in February 2005.  Most recently, his
responsibilities included developing and overseeing CBS RADIO’s online and
mobile strategy, as well as creating new content partnerships and monetizing the
division’s digital inventory.
 

Previously,
Goodman spent six years at the Warner Music Group, Warnervision Entertainment
and Warner Bros.  While there, he led the
drive to produce more than 1,100 hours of original programming making the
division one of the leading distributors of music programming in the
world.  He was responsible for creating
VH1’s long running “Hard Rock Live” series, and launched the series “Russell
Simmons One World Music Beat,” Telemundo’s “Tu Ritmo” and the Emmy-nominated
“An Evening with Michael Crawford” on Public Television.
 

About CBS Corporation
CBS
Corporation (NYSE: CBS.A and CBS) is a mass media company with constituent
parts that reach back to the beginnings of the broadcast industry, as well as
newer businesses that operate on the leading edge of the media industry. The
Company, through its many and varied operations, combines broad reach with
well-positioned local businesses, all of which provide it with an extensive
distribution network by which it serves audiences and advertisers in all 50
states and key international markets. It has operations in virtually every
field of media and entertainment, including broadcast television (CBS and The
CW – a joint venture between CBS Corporation and Warner Bros. Entertainment),
cable television (Showtime and CBS College Sports Network), local television
(CBS Television Stations), television production and syndication (CBS Paramount
Network Television and CBS Television Distribution), radio (CBS Radio),
advertising on out-of-home media (CBS Outdoor), publishing (Simon &
Schuster), interactive media (CBS Interactive), music (CBS Records), licensing
and merchandising (CBS Consumer Products), video/DVD (CBS Home Entertainment),
in-store media (CBS Outernet) and motion pictures (CBS Films). For more
information, log on to www.cbscorporation.com.
 

About CBS Interactive
CBS
Interactive, a division of CBS Corporation, is the best online content network
for information and entertainment.  With more than 180 million people
visiting its properties each month, it is the 8th largest Web property
globally. Its portfolio of leading brands, which include CNET, CBS.com,
CBSSports.com, GameSpot, TV.com, BNET and Last.fm, span popular categories like
technology, entertainment, sports, news and business.
 

About CBS RADIO
CBS
RADIO, one of the largest major-market operators in the United States with stations
covering news, sports, talk, rock, oldies, country, adult contemporary and
urban formats, among others, offers audiences an enhanced and customized
listening experience through the combination of on-air, online and new media
platforms.  CBS RADIO operates 134 radio stations throughout the nation’s
top 50 markets and broadcasts play-by-play coverage of more than two dozen of
the country’s leading professional sports franchises.  CBS RADIO also has
embraced interactive programming through the use of streaming, HD Radio,
podcasts and mobile messaging.  The division maintains exclusive
agreements with AOL and Yahoo through which CBS RADIO powers AOL Radio and
LAUNCHcast, respectively, and distributes its stations to their network of
listeners. For more information on CBS RADIO, please visit www.cbsradio.com.



[1] CBS
Interactive & CBS RADIO internal metrics