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CBS Corporation Acquires EcoMedia
New York - May 13, 2010 - CBS Corporation has acquired EcoMedia, 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. The announcement was made by Leslie Moonves, president and CEO of CBS. Moonves also announced that EcoMedia's CEO andFounder 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. With this acquisition, CBS now incorporates EcoMedia's model and offerings into all of its operating units, including television, online, radio, publishing and outdoor.
Prior to founding EcoMedia, Polizzotto was recognized for his work helping municipalities to clean waterways. He based EcoMedia on a concept of sustainable media - a way to help companies achieve community outreach objectives while making a tangible difference to the environment.
CBS and EcoMedia teamed 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.M
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