CBS Acquires EcoMedia
May 13, 2010 at 11:14 AM (PT)
CBS CORP. has acquired ECOMEDIA, LLC, 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. Terms of the transaction were not disclosed.
ECOMEDIA CEO/Founder PAUL POLIZZOTTO will serve as President of ECOMEDIA, and continue to lead the new division, which will retain its name. CBS and ECOMEDIA have already partnered in a wide variety of environmental projects in CBS’ local markets. This acquisition enables CBS to incorporate ECOMEDIA’s 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," CBS CORP. Pres./CEO LES MOONVES said. "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."
"We're very pleased to join the CBS family and continue pursuing our goal to become the first and only advertising solution for sponsors who want their media spending to help measurably improve the environment," POLIZZOTTO said. "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. Being part of CBS will better allow us to deliver these improvements on a much greater scale to markets across the country."
"ECOMEDIA’s innovative model of sustainable media adds a unique and exciting dimension to CBS RADIO’s sales offering," CBS RADIO Pres./CEO DAN MASON said. "We will work closely with ECOMEDIA to address the specific needs of our advertisers’ green initiatives and objectives and, with their guidance, we will look to create groundbreaking ways to help educate our many listeners and improve the quality of life in the communities we serve throughout the country."