NEW YORK, May 13 /PRNewswire-FirstCall/ -- CBS Corporation
(NYSE: CBS.A and CBS) announced today that it 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 are not being disclosed.
The announcement was made by Leslie
Moonves, President and CEO of CBS Corporation. Moonves also
announced that EcoMedia's CEO and Founder, Paul Polizzotto, will serve as President of
EcoMedia, and continue to lead the new division, which will retain
its name.
Since 2008, CBS and EcoMedia, working as partners, have engaged
in a wide variety of environmental projects in CBS's local markets.
And with this 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."
Prior to founding EcoMedia, Paul
Polizzotto was recognized for his work helping
municipalities to clean waterways. He based EcoMedia on an
innovative new concept of sustainable media – a way to help
companies achieve community outreach objectives while making a
tangible difference to the environment.
"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," said Polizzotto. "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."
CBS and EcoMedia teamed up in 2008 to launch the CBS-EcoZone
Green Schools Initiative in San
Francisco, Miami and the
suburban Chicago area, which
raised more than $650,000 worth of
products and services for green projects and technologies to give a
winning school in each city a "green makeover." For its work in the
city of Miami, EcoMedia received
the 2009 US Council of Mayors' top honor, the Excellence in
Public/Private Partnerships Award.
These are just some of the early examples of work CBS has done
with EcoMedia. Each CBS business unit will now work with the
new division to bring advertisers a new way to engage consumers
while improving the environment. Here are some thoughts from
CBS executives:
"EcoMedia's groundbreaking program will add a unique and
desirable element to the sales packages we can bring to our CBS
Television Stations Group clients. By including a green
offering as part of the overall ad buy, advertisers will be able to
address their sustainability objectives and green initiatives, and
ultimately engage on a more meaningful level with their consumers.
EcoMedia and CBS stations have already had great success teaming up
on the CBS-EcoZone Green Schools Initiative in San Francisco, Miami and Chicago. We look forward to
building on that success together in the many communities we
serve." Peter Dunn,
President, CBS Television Stations Group
"EcoMedia's innovative model of sustainable media adds a unique
and exciting dimension to CBS Radio's sales offering. 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." Dan Mason, President and CEO, CBS Radio
"EcoMedia's mission is a great complement to Outdoor's
ability to leverage our advertisers' commitment to
'community.' We provide tremendous presence in the
marketplace, and the addition of EcoMedia's outreach into the
environmental lifestyle of the community enhances the overall
product that we deliver. The CBS-EcoZone Green School
Initiative is a great example of our collaboration that had an
additive effect on all parties involved. We are thrilled that
EcoMedia has joined the CBS family and look forward to bringing
more creative green offerings to our advertisers." Wally Kelly, Chairman and CEO, CBS
Outdoor
"CBS Interactive looks forward to working with and leveraging
EcoMedia to create new opportunities for clients to further their
sustainability objectives. The partnership with EcoMedia adds
an attractive new dimension for advertisers, providing them with an
alternative and creative way to engage with consumers and improve
the environment." Neil
Ashe, President, CBS Interactive
"EcoMedia's 'EcoZone' is a terrific project with a creative
approach that let us make a tangible contribution to the schools.
EcoMedia spread an important environmental message
and helped us develop viable commercial
sponsorships." Ron
Longinotti, President and General Manager of CBS's San
Francisco station KPIX
"The green school initiative provided us with an opportunity to
partner with the Miami school
system and our local community in promoting a positive
environmental message through a green project that made a lasting
difference. EcoMedia was the driving force in bringing the public
and private sectors together to create this change."
Shaun McDonald, President and
General Manager of CBS's Miami station WFOR, EcoMedia's original
partner in launching the CBS-EcoZone Green Schools Initiative in
Miami in 2008
EcoMedia's experience in helping companies fund green
initiatives has also earned recognition from noted
environmentalists:
"EcoMedia's EcoZone program has been one of the best ideas I
have encountered to conserve and protect our natural resources...
Cities get much needed funds; communities get cleaner water, air
and green spaces; and corporations can put their resources to work
for the betterment of society. Now as a CBS company, EcoMedia
is partnered with a major media conglomerate to take the next
logical and necessary step." Robert F.
Kennedy, Jr., President and Founder, Waterkeeper
Alliance
"Every corporation I know is focused on adding more sustainable
options to their supply chain and it's going to be very welcome
news that now they can find sustainability right in their marketing
and communications budgets, a place they've never looked before. As
we advance toward our low carbon future, this is the perfect
marriage of a top tier media giant continuing to evolve and stay
more relevant than ever, and a creative game-changing company that
found a better way to reach consumers and boost their lives and
futures at the same time. The potential for scaling
EcoMedia's programs and proven results across all the CBS channels
of distribution is exhilarating news for stakeholders who all
benefit – corporations, local governments, environmentalists and
all the people they serve." Terry
Tamminen, Special Assistant to Governor
Schwarzenegger and former Secretary of the California
Environmental Protection Agency (CalEPA)
"We value the opportunity to partner with EcoMedia and CBS to
offer a unique advertising program that addresses sustainable
solutions. This creative business model gives advertisers the
ability to help fund renewable energy projects and energy
efficiency programs while still meeting their important media
goals. As North America's largest
producer of wind and solar power, we applaud innovative
community-focused efforts like this that help reduce carbon
emissions and build a clean energy future." Nathan Hanson, Vice President Power Marketing,
NextEra Energy Resources
For more information logon to
www.ecomediacbs.com.
About CBS Corporation
CBS Corporation 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 Networks, Smithsonian Networks and CBS College Sports
Network), local television (CBS Television Stations), television
production and syndication (CBS Television Studios, CBS Studios
International 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), motion pictures (CBS Films) and
sustainable media (EcoMedia). For more information, log on to
www.cbscorporation.com.
Cautionary Statement Concerning Forward-looking Statements
This release contains forward-looking information. All
statements in this release, other than statements of historical
fact are, or may be deemed to be, forward-looking statements within
the meaning of section 27A of the Securities Act of 1933 and
section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that are difficult to predict which
could cause actual outcomes and results to differ materially from
these statements, including those factors described in the news
releases and filings with the Securities and Exchange Commission
including but not limited to the most recent Annual Report on Form
10-K and other period reports on Forms 10-Q and 8-K filed by CBS
Corporation. The forward-looking statements included in this
release are made only as of the date of this release, and under
section 27A of the Securities Act and section 21E of the Exchange
Act, CBS Corporation does not have any obligation to publicly
update any forward-looking statements to reflect subsequent events
or circumstances.
SOURCE CBS Corporation
