Viacom appoints MarketWatch founder to head CBS internet business

03/31/05 - newratings.com

NEW YORK, March 31 (newratings.com) – Viacom Inc (VIA) has named Larry Kramer, the founder of the online financial news provider MarketWatch, to head the internet operations of the company’s CBS unit. Earlier this year, Viacom lost a bid to Dow Jones & Company to acquire MarketWatch.

The US-based media and entertainment giant said in a press release on Thursday that Larry Kramer has been appointed as the president of a newly created division, CBS Digital Media. The new division would comprise of all the online operations and developing new media businesses of the company's CBS unit, including CBS SportsLine.com, CBS.com, CBSNews.com and UPN.com. The statement added that Larry Kramer would report directly to Les Moonves, the CBS unit’s chairman and Viacom's co-president and co-chairman. Larry Kramer had founded MarketWatch Inc in 1997, in which Viacom held a stake before it was acquired by Dow Jones & Company in January this year.