CBS Corporation acquires EcoMedia LLC
May 14th, 2010 - 12:21 am ICT by BNO NewsNEW YORK CITY (BNO NEWS) – CBS Corporation has acquired EcoMedia, LLC, Leslie Moonves, President and CEO of CBS Corporation, announced on Thursday.
Several environmental projects have been co-operated by CBS and EcoMedia since 2008 in CBS’s local markets. With the acquisition, CBS now incorporates EcoMedia’s innovative model and offerings into all of its operating units, including television, online, radio, publishing and outdoor.
“We want to be a catalyst for getting actual bricks-and-mortar ‘greening’ projects done that will improve the quality of life in the local communities we serve,” said Moonves. “We have seen firsthand EcoMedia’s work on the ground with environmental projects throughout the country and we’re very pleased to now fully integrate EcoMedia into the fabric of CBS.”
EcoMedia is an organization that brings together public institutions and municipalities with private industry advertisers and local media to generate funding for projects to improve the environment. Its CEO and Founder, Paul Polizzotto, will serve as President of EcoMedia and will continue to lead the new division, which will retain its name.
“EcoMedia’s sustainable media product is a unique solution that CBS can offer clients to fund energy efficiency initiatives as part of their normal advertising buys, including retrofits and solar installations on public buildings and schools, tree plantings and watershed clean-up projects,” said Polizzotto. “Being part of CBS will better allow us to deliver these improvements on a much greater scale to markets across the country.”
Terms of the transaction are not being disclosed.
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